Bitcoin Intraday: the RSI is overbought
Jul 11, 2025 4:05 AM
the upside prevails as long as 115810 is support.
115810 is our pivot point.
Our preference:
the upside prevails as long as 115810 is support.
Alternative scenario:
below 115810, expect 114570 and 113840.
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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 115482 and 113080).
Supports and resistances:
120580 **
119850 *
119110 **
118370
116817 last
116290
115810 **
114570 *
113840 **
Our preference:
the upside prevails as long as 115810 is support.
Alternative scenario:
below 115810, expect 114570 and 113840.
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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 115482 and 113080).
Supports and resistances:
120580 **
119850 *
119110 **
118370
116817 last
116290
115810 **
114570 *
113840 **
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