Bitcoin Intraday: the RSI is overbought
Jul 14, 2025 4:05 AM
the upside prevails as long as 119700 is support.
Our pivot point stands at 119700.
Our preference:
the upside prevails as long as 119700 is support.
Alternative scenario:
the downside breakout of 119700 would call for 118420 and 117660.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 119295 and 118665). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 120551).
Supports and resistances:
124610 **
123850 *
123080 **
122320
120743 last
120200
119700 **
118420 *
117660 **
Our preference:
the upside prevails as long as 119700 is support.
Alternative scenario:
the downside breakout of 119700 would call for 118420 and 117660.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 119295 and 118665). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 120551).
Supports and resistances:
124610 **
123850 *
123080 **
122320
120743 last
120200
119700 **
118420 *
117660 **
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