Bitcoin Intraday: the RSI is oversold
Sep 19, 2025 12:59 PM
the downside prevails as long as 117220 is resistance.
117220 is our pivot point.
Our preference:
the downside prevails as long as 117220 is resistance.
Alternative scenario:
the upside breakout of 117220, would call for 118370 and 119060.
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 is trading under both its 20 and 50 period moving average (respectively at 116787 and 117186). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (116220).
Supports and resistances:
119060 **
118370 *
117220 **
116760
116207 last
114820
114130 **
113440 *
112750 **
Our preference:
the downside prevails as long as 117220 is resistance.
Alternative scenario:
the upside breakout of 117220, would call for 118370 and 119060.
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 is trading under both its 20 and 50 period moving average (respectively at 116787 and 117186). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (116220).
Supports and resistances:
119060 **
118370 *
117220 **
116760
116207 last
114820
114130 **
113440 *
112750 **
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