Bitcoin Intraday: the RSI is oversold
Aug 24, 2025 7:47 PM
the downside prevails as long as 115610 is resistance.
Our pivot point is at 115610.
Our preference:
the downside prevails as long as 115610 is resistance.
Alternative scenario:
the upside breakout of 115610, would call for 116740 and 117410.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 114446 and 114825). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (113522).
Supports and resistances:
117410 **
116740 *
115610 **
115160
112576 last
109400
108750 **
108100 *
107450 **
Our preference:
the downside prevails as long as 115610 is resistance.
Alternative scenario:
the upside breakout of 115610, would call for 116740 and 117410.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 114446 and 114825). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (113522).
Supports and resistances:
117410 **
116740 *
115610 **
115160
112576 last
109400
108750 **
108100 *
107450 **
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