Bitcoin Intraday: the RSI is oversold
Feb 25, 2025 1:05 AM
the downside prevails as long as 92980 is resistance.
Our pivot point is at 92980.
Our preference:
the downside prevails as long as 92980 is resistance.
Alternative scenario:
above 92980, look for 94240 and 95000.
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 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 93556 and 94802).
Supports and resistances:
95000 **
94240 *
92980 **
92480
91901 last
90290
89530 **
88780 *
88030 **
Our preference:
the downside prevails as long as 92980 is resistance.
Alternative scenario:
above 92980, look for 94240 and 95000.
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 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 93556 and 94802).
Supports and resistances:
95000 **
94240 *
92980 **
92480
91901 last
90290
89530 **
88780 *
88030 **
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