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Bitcoin / Dollar intraday: the RSI is overbought

2024-07-15
877

62270 is our pivot point.

Our preference: as long as 62270 is support look for 64770.

Alternative scenario: below 62270, expect 61320 and 60750.

Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 62266 and 60983).

Supports and resistances:

65910 **

65340 *

64770 **

64210

63058 last

62650

62270 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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