Bitcoin Intraday: the RSI is overbought
Jul 11, 2025 6:50 AM
the upside prevails as long as 116940 is support.
Our pivot point stands at 116940.
Our preference:
the upside prevails as long as 116940 is support.
Alternative scenario:
below 116940, expect 115690 and 114950.
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 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 116513 and 113731).
Supports and resistances:
121900 **
121160 *
120410 **
119670
117922 last
117430
116940 **
115690 *
114950 **
Our preference:
the upside prevails as long as 116940 is support.
Alternative scenario:
below 116940, expect 115690 and 114950.
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 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 116513 and 113731).
Supports and resistances:
121900 **
121160 *
120410 **
119670
117922 last
117430
116940 **
115690 *
114950 **
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