Bitcoin Intraday: the RSI is oversold
Apr 15, 2025 7:51 PM
the downside prevails as long as 85540 is resistance.
Our pivot point stands at 85540.
Our preference:
the downside prevails as long as 85540 is resistance.
Alternative scenario:
the upside breakout of 85540, would call for 87370 and 88460.
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 85055 and 85113).
Supports and resistances:
88460 **
87370 *
85540 **
84820
83953 last
81770
80680 **
79600 *
78510 **
Our preference:
the downside prevails as long as 85540 is resistance.
Alternative scenario:
the upside breakout of 85540, would call for 87370 and 88460.
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 85055 and 85113).
Supports and resistances:
88460 **
87370 *
85540 **
84820
83953 last
81770
80680 **
79600 *
78510 **
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