Bitcoin Intraday: the RSI is oversold
May 29, 2025 7:53 PM
the downside prevails as long as 107340 is resistance.
Our pivot point stands at 107340.
Our preference:
the downside prevails as long as 107340 is resistance.
Alternative scenario:
above 107340, look for 109020 and 110020.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 107402 and 107684).
Supports and resistances:
110020 **
109020 *
107340 **
106680
105800 last
103710
102710 **
101710 *
100720 **
Our preference:
the downside prevails as long as 107340 is resistance.
Alternative scenario:
above 107340, look for 109020 and 110020.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 107402 and 107684).
Supports and resistances:
110020 **
109020 *
107340 **
106680
105800 last
103710
102710 **
101710 *
100720 **
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