Bitcoin Intraday: the RSI is overbought
Jun 9, 2025 1:02 PM
the upside prevails as long as 106510 is support.
Our pivot point stands at 106510.
Our preference:
the upside prevails as long as 106510 is support.
Alternative scenario:
below 106510, expect 104840 and 103840.
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 106391 and 106143).
Supports and resistances:
112810 **
111820 *
110820 **
109820
107830 last
107170
106510 **
104840 *
103840 **
Our preference:
the upside prevails as long as 106510 is support.
Alternative scenario:
below 106510, expect 104840 and 103840.
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 106391 and 106143).
Supports and resistances:
112810 **
111820 *
110820 **
109820
107830 last
107170
106510 **
104840 *
103840 **
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