Bitcoin Intraday: the RSI is oversold
Mar 28, 2025 7:50 AM
the downside prevails as long as 86880 is resistance.
Our pivot point is at 86880.
Our preference:
the downside prevails as long as 86880 is resistance.
Alternative scenario:
above 86880, look for 88530 and 89510.
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 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 86653 and 86929). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (85259).
Supports and resistances:
89510 **
88530 *
86880 **
86230
85154 last
83200
82230 **
81250 *
80280 **
Our preference:
the downside prevails as long as 86880 is resistance.
Alternative scenario:
above 86880, look for 88530 and 89510.
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 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 86653 and 86929). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (85259).
Supports and resistances:
89510 **
88530 *
86880 **
86230
85154 last
83200
82230 **
81250 *
80280 **
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