Bitcoin Cash Intraday: the RSI is overbought
Bitcoin Cash (BCH/USD)
-0.90-0.26%
the upside prevails as long as 341.9 is support.
Our pivot point is at 341.9.
Our preference: the upside prevails as long as 341.9 is support.
Alternative scenario: the downside breakout of 341.9 would call for 331.4 and 325.1.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 333.7 and 321.5).
Supports and resistances:
383.1 **
376.8 *
370.5 **
364.2
350.2 last
346.0
341.9 **
331.4 *
325.1 **
Our preference: the upside prevails as long as 341.9 is support.
Alternative scenario: the downside breakout of 341.9 would call for 331.4 and 325.1.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 333.7 and 321.5).
Supports and resistances:
383.1 **
376.8 *
370.5 **
364.2
350.2 last
346.0
341.9 **
331.4 *
325.1 **
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