Bitcoin Intraday: the RSI is oversold
Feb 11, 2025 8:50 PM
the downside prevails as long as 96530 is resistance.
Our pivot point is at 96530.
Our preference:
the downside prevails as long as 96530 is resistance.
Alternative scenario:
above 96530, look for 97940 and 98790.
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 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 96547 and 97335).
Supports and resistances:
98790 **
97940 *
96530 **
95970
95000 last
93320
92480 **
91650 *
90810 **
Our preference:
the downside prevails as long as 96530 is resistance.
Alternative scenario:
above 96530, look for 97940 and 98790.
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 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 96547 and 97335).
Supports and resistances:
98790 **
97940 *
96530 **
95970
95000 last
93320
92480 **
91650 *
90810 **
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