Bitcoin Intraday: the RSI is oversold
Aug 18, 2025 9:14 AM
the downside prevails as long as 116030 is resistance.
116030 is our pivot point.
Our preference:
the downside prevails as long as 116030 is resistance.
Alternative scenario:
above 116030, look for 117080 and 117700.
Comment:
the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 115833 and 117171).
Supports and resistances:
117700 **
117080 *
116030 **
115620
115000 last
113760
113140 **
112520 *
111900 **
Our preference:
the downside prevails as long as 116030 is resistance.
Alternative scenario:
above 116030, look for 117080 and 117700.
Comment:
the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 115833 and 117171).
Supports and resistances:
117700 **
117080 *
116030 **
115620
115000 last
113760
113140 **
112520 *
111900 **
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