Bitcoin Intraday: the RSI is overbought
Aug 11, 2025 4:02 AM
the upside prevails as long as 120780 is support.
120780 is our pivot point.
Our preference:
the upside prevails as long as 120780 is support.
Alternative scenario:
the downside breakout of 120780 would call for 119590 and 118890.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 119589 and 118856).
Supports and resistances:
125260 **
124550 *
123840 **
123140
121725 last
121240
120780 **
119590 *
118890 **
Our preference:
the upside prevails as long as 120780 is support.
Alternative scenario:
the downside breakout of 120780 would call for 119590 and 118890.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 119589 and 118856).
Supports and resistances:
125260 **
124550 *
123840 **
123140
121725 last
121240
120780 **
119590 *
118890 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
Related Instruments
Bitcoin
87824.7
-496.33000000000175
-56.20%
