Bitcoin / Dollar intraday: above its upper Bollinger band
Our pivot point stands at 113480.
Our preference:
The upside prevails as long as 113480 is support.
Alternative scenario:
Below 113480, expect 112030 and 111170.
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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 113682 and 112687). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 114509).
