Bitcoin Intraday: the RSI is overbought
Aug 11, 2025 6:47 AM
the upside prevails as long as 121150 is support.
Our pivot point stands at 121150.
Our preference:
the upside prevails as long as 121150 is support.
Alternative scenario:
the downside breakout of 121150 would call for 119960 and 119250.
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 trading above both its 20 and 50 period moving average (respectively at 120475 and 119231).
Supports and resistances:
125740 **
125030 *
124330 **
123620
122170 last
121610
121150 **
119960 *
119250 **
Our preference:
the upside prevails as long as 121150 is support.
Alternative scenario:
the downside breakout of 121150 would call for 119960 and 119250.
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 trading above both its 20 and 50 period moving average (respectively at 120475 and 119231).
Supports and resistances:
125740 **
125030 *
124330 **
123620
122170 last
121610
121150 **
119960 *
119250 **
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