Bitcoin Intraday: the RSI is oversold
Mar 18, 2025 2:02 PM
the downside prevails as long as 82610 is resistance.
Our pivot point is at 82610.
Our preference:
the downside prevails as long as 82610 is resistance.
Alternative scenario:
the upside breakout of 82610, would call for 84150 and 85070.
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 82682 and 83294). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 81614).
Supports and resistances:
85070 **
84150 *
82610 **
82010
81316 last
79480
78570 **
77650 *
76740 **
Our preference:
the downside prevails as long as 82610 is resistance.
Alternative scenario:
the upside breakout of 82610, would call for 84150 and 85070.
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 82682 and 83294). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 81614).
Supports and resistances:
85070 **
84150 *
82610 **
82010
81316 last
79480
78570 **
77650 *
76740 **
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