Bitcoin / Dollar intraday: the upside prevails as long as 59370 is support

Our preference

The upside prevails as long as 59370 is support.

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 trading above both its 20 and 50 period moving average (respectively at 59672 and 59363).

Alternative scenario

Below 59370, expect 58150 and 57420.