Bitcoin Intraday: the RSI is overbought
Jul 9, 2025 7:50 PM
the upside prevails as long as 109370 is support.
Our pivot point is at 109370.
Our preference:
the upside prevails as long as 109370 is support.
Alternative scenario:
the downside breakout of 109370 would call for 108210 and 107510.
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 above its 20 and 50 period moving average (respectively at 109358 and 108992). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 110559).
Supports and resistances:
114960 **
114250 *
113550 **
112850
111444 last
109830
109370 **
108210 *
107510 **
Our preference:
the upside prevails as long as 109370 is support.
Alternative scenario:
the downside breakout of 109370 would call for 108210 and 107510.
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 above its 20 and 50 period moving average (respectively at 109358 and 108992). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 110559).
Supports and resistances:
114960 **
114250 *
113550 **
112850
111444 last
109830
109370 **
108210 *
107510 **
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