Bitcoin Cash Intraday: the RSI is overbought
Bitcoin Cash (BCH/USD)
+26.10+13.05%
the upside prevails as long as 212.8 is support.
212.8 is our pivot point.
Our preference: the upside prevails as long as 212.8 is support.
Alternative scenario: below 212.8, expect 209.1 and 206.9.
Comment: the RSI is trading above 70. This could mean that either the price 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 price is above its 20 and 50 period moving average (respectively at 212.8 and 207.2). Finally, the Bitcoin Cash / Dollar is trading above its upper Bollinger band (standing at 218.2).
Supports and resistances:
233.0 *
230.7 **
228.4
222.0 last
212.8 **
209.1 *
206.9 **
Our preference: the upside prevails as long as 212.8 is support.
Alternative scenario: below 212.8, expect 209.1 and 206.9.
Comment: the RSI is trading above 70. This could mean that either the price 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 price is above its 20 and 50 period moving average (respectively at 212.8 and 207.2). Finally, the Bitcoin Cash / Dollar is trading above its upper Bollinger band (standing at 218.2).
Supports and resistances:
233.0 *
230.7 **
228.4
222.0 last
212.8 **
209.1 *
206.9 **
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