Bitcoin Intraday: the RSI is overbought
Mar 24, 2025 5:05 AM
the upside prevails as long as 85580 is support.
Our pivot point stands at 85580.
Our preference:
the upside prevails as long as 85580 is support.
Alternative scenario:
below 85580, expect 83930 and 82950.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (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 85846 and 85140).
Supports and resistances:
91840 **
90860 *
89880 **
88900
86945 last
86220
85580 **
83930 *
82950 **
Our preference:
the upside prevails as long as 85580 is support.
Alternative scenario:
below 85580, expect 83930 and 82950.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (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 85846 and 85140).
Supports and resistances:
91840 **
90860 *
89880 **
88900
86945 last
86220
85580 **
83930 *
82950 **
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