Bitcoin Intraday: the RSI is oversold
Aug 29, 2025 8:40 AM
the downside prevails as long as 111040 is resistance.
Our pivot point stands at 111040.
Our preference:
the downside prevails as long as 111040 is resistance.
Alternative scenario:
the upside breakout of 111040, would call for 112200 and 112890.
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 is trading under both its 20 and 50 period moving average (respectively at 111386 and 112167).
Supports and resistances:
112890 **
112200 *
111040 **
110580
109925 last
108540
107850 **
107160 *
106470 **
Our preference:
the downside prevails as long as 111040 is resistance.
Alternative scenario:
the upside breakout of 111040, would call for 112200 and 112890.
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 is trading under both its 20 and 50 period moving average (respectively at 111386 and 112167).
Supports and resistances:
112890 **
112200 *
111040 **
110580
109925 last
108540
107850 **
107160 *
106470 **
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