Bitcoin Intraday: above its upper Bollinger band
Aug 7, 2025 7:49 PM
the upside prevails as long as 115820 is support.
Our pivot point stands at 115820.
Our preference:
the upside prevails as long as 115820 is support.
Alternative scenario:
below 115820, expect 114680 and 114000.
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 trading above both its 20 and 50 period moving average (respectively at 116520 and 115545). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 117122).
Supports and resistances:
120800 **
120120 *
119430 **
118750
117392 last
116270
115820 **
114680 *
114000 **
Our preference:
the upside prevails as long as 115820 is support.
Alternative scenario:
below 115820, expect 114680 and 114000.
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 trading above both its 20 and 50 period moving average (respectively at 116520 and 115545). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 117122).
Supports and resistances:
120800 **
120120 *
119430 **
118750
117392 last
116270
115820 **
114680 *
114000 **
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