Bitcoin Intraday: the RSI is overbought
Jul 14, 2025 6:50 AM
the upside prevails as long as 121090 is support.
Our pivot point stands at 121090.
Our preference:
the upside prevails as long as 121090 is support.
Alternative scenario:
the downside breakout of 121090 would call for 119790 and 119020.
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 120054 and 119101).
Supports and resistances:
126250 **
125480 *
124710 **
123940
122111 last
121590
121090 **
119790 *
119020 **
Our preference:
the upside prevails as long as 121090 is support.
Alternative scenario:
the downside breakout of 121090 would call for 119790 and 119020.
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 120054 and 119101).
Supports and resistances:
126250 **
125480 *
124710 **
123940
122111 last
121590
121090 **
119790 *
119020 **
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