Bitcoin / Dollar intraday: the RSI is overbought

BTCUSD

Trading Central 2021-02-20 01:47:05

Our pivot point stands at 52991.

Our preference: the upside prevails as long as 52991 is support.

Alternative scenario: below 52991, expect 51183 and 50107.

Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 53059 and 52210).

Supports and resistances:

60078 **

58997 *

57916 **

56834

54533 last

53701

52991 **

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