Bitcoin Intraday: the RSI is overbought
Jul 14, 2025 8:41 AM
the upside prevails as long as 121350 is support.
Our pivot point is at 121350.
Our preference:
the upside prevails as long as 121350 is support.
Alternative scenario:
below 121350, expect 120050 and 119280.
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 120812 and 119464).
Supports and resistances:
126440 **
125670 *
124900 **
124130
122552 last
121860
121350 **
120050 *
119280 **
Our preference:
the upside prevails as long as 121350 is support.
Alternative scenario:
below 121350, expect 120050 and 119280.
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 120812 and 119464).
Supports and resistances:
126440 **
125670 *
124900 **
124130
122552 last
121860
121350 **
120050 *
119280 **
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