Bitcoin Intraday: the RSI is oversold
Feb 25, 2025 7:50 AM
the downside prevails as long as 90510 is resistance.
90510 is our pivot point.
Our preference:
the downside prevails as long as 90510 is resistance.
Alternative scenario:
the upside breakout of 90510, would call for 91740 and 92480.
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 stands below its 20 and 50 period moving average (respectively at 91744 and 93716). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 89855).
Supports and resistances:
92480 **
91740 *
90510 **
90020
89289 last
86770
86050 **
85330 *
84600 **
Our preference:
the downside prevails as long as 90510 is resistance.
Alternative scenario:
the upside breakout of 90510, would call for 91740 and 92480.
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 stands below its 20 and 50 period moving average (respectively at 91744 and 93716). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 89855).
Supports and resistances:
92480 **
91740 *
90510 **
90020
89289 last
86770
86050 **
85330 *
84600 **
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