Bitcoin Intraday: the RSI is oversold
Feb 25, 2025 9:41 AM
the downside prevails as long as 89970 is resistance.
Our pivot point stands at 89970.
Our preference:
the downside prevails as long as 89970 is resistance.
Alternative scenario:
the upside breakout of 89970, would call for 91200 and 91930.
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 91096 and 93193).
Supports and resistances:
91930 **
91200 *
89970 **
89490
88900 last
87080
86350 **
85630 *
84900 **
Our preference:
the downside prevails as long as 89970 is resistance.
Alternative scenario:
the upside breakout of 89970, would call for 91200 and 91930.
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 91096 and 93193).
Supports and resistances:
91930 **
91200 *
89970 **
89490
88900 last
87080
86350 **
85630 *
84900 **
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