Bitcoin / Dollar intraday: the RSI is overbought

Trading Central 2020-11-21 00:17:04

Our pivot point is at 18423.

Our preference: the upside prevails as long as 18423 is support.

Alternative scenario: the downside breakout of 18423 would call for 18120 and 17940.

Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 18349 and 18131). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 18726).

Supports and resistances:

19714 **

19533 *

19351 **

19170

18781 last

18542

18423 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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