Bitcoin Intraday: the RSI is oversold
Aug 14, 2025 12:59 PM
the downside prevails as long as 122050 is resistance.
Our pivot point stands at 122050.
Our preference:
the downside prevails as long as 122050 is resistance.
Alternative scenario:
the upside breakout of 122050, would call for 123150 and 123800.
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 121868 and 122106). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 119723).
Supports and resistances:
123800 **
123150 *
122050 **
121620
118986 last
116510
115870 **
115240 *
114600 **
Our preference:
the downside prevails as long as 122050 is resistance.
Alternative scenario:
the upside breakout of 122050, would call for 123150 and 123800.
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 121868 and 122106). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 119723).
Supports and resistances:
123800 **
123150 *
122050 **
121620
118986 last
116510
115870 **
115240 *
114600 **
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