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Bitcoin Intraday: the RSI is oversold

Sep 19, 2025 7:49 PM
the downside prevails as long as 116300 is resistance.
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Our pivot point is at 116300.
Our preference:
the downside prevails as long as 116300 is resistance.
Alternative scenario:
the upside breakout of 116300, would call for 117450 and 118130.
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 is trading under both its 20 and 50 period moving average (respectively at 116024 and 116701).
Supports and resistances:
118130 **
117450 *
116300 **
115850
115251 last
113890
113200 **
112520 *
111840 **
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