Bitcoin Intraday: the RSI is overbought
Jul 2, 2025 7:50 PM
the upside prevails as long as 108430 is support.
Our pivot point stands at 108430.
Our preference:
the upside prevails as long as 108430 is support.
Alternative scenario:
below 108430, expect 107160 and 106400.
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 108474 and 107148).
Supports and resistances:
113420 **
112660 *
111900 **
111140
109441 last
108930
108430 **
107160 *
106400 **
Our preference:
the upside prevails as long as 108430 is support.
Alternative scenario:
below 108430, expect 107160 and 106400.
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 108474 and 107148).
Supports and resistances:
113420 **
112660 *
111900 **
111140
109441 last
108930
108430 **
107160 *
106400 **
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