Bitcoin Short Term: the upside prevails as long as 116110 is support
Oct 7, 2025 10:05 AM
the upside prevails as long as 116110 is support.
116110 is our pivot point.
Our preference:
the upside prevails as long as 116110 is support.
Alternative scenario:
the downside breakout of 116110 would call for 106710 and 101120.
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 above its 20 and 50 period moving average (respectively at 116363 and 114156).
Supports and resistances:
153440 **
147770 *
142100 **
136440
124156 last
119800
116110 **
106710 *
101120 **
Our preference:
the upside prevails as long as 116110 is support.
Alternative scenario:
the downside breakout of 116110 would call for 106710 and 101120.
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 above its 20 and 50 period moving average (respectively at 116363 and 114156).
Supports and resistances:
153440 **
147770 *
142100 **
136440
124156 last
119800
116110 **
106710 *
101120 **
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