Bitcoin Intraday: the RSI is overbought
Jun 3, 2025 2:04 AM
the upside prevails as long as 105170 is support.
Our pivot point is at 105170.
Our preference:
the upside prevails as long as 105170 is support.
Alternative scenario:
below 105170, expect 103480 and 102480.
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 above its 20 and 50 period moving average (respectively at 105299 and 104954).
Supports and resistances:
111530 **
110520 *
109520 **
108510
106500 last
105840
105170 **
103480 *
102480 **
Our preference:
the upside prevails as long as 105170 is support.
Alternative scenario:
below 105170, expect 103480 and 102480.
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 above its 20 and 50 period moving average (respectively at 105299 and 104954).
Supports and resistances:
111530 **
110520 *
109520 **
108510
106500 last
105840
105170 **
103480 *
102480 **
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