Bitcoin Intraday: the downside prevails as long as 111500 is resistance
Sep 4, 2025 6:47 AM
the downside prevails as long as 111500 is resistance.
Our pivot point is at 111500.
Our preference:
the downside prevails as long as 111500 is resistance.
Alternative scenario:
the upside breakout of 111500, would call for 112690 and 113390.
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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 111511 and 111573).
Supports and resistances:
113390 **
112690 *
111500 **
111040
110492 last
109050
108340 **
107640 *
106930 **
Our preference:
the downside prevails as long as 111500 is resistance.
Alternative scenario:
the upside breakout of 111500, would call for 112690 and 113390.
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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 111511 and 111573).
Supports and resistances:
113390 **
112690 *
111500 **
111040
110492 last
109050
108340 **
107640 *
106930 **
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