Bitcoin Intraday: the RSI is overbought
Apr 4, 2025 8:42 AM
the upside prevails as long as 83080 is support.
Our pivot point is at 83080.
Our preference:
the upside prevails as long as 83080 is support.
Alternative scenario:
below 83080, expect 81450 and 80490.
Comment:
the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 83195 and 82747). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 84244).
Supports and resistances:
89320 **
88350 *
87380 **
86410
84462 last
83720
83080 **
81450 *
80490 **
Our preference:
the upside prevails as long as 83080 is support.
Alternative scenario:
below 83080, expect 81450 and 80490.
Comment:
the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 83195 and 82747). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 84244).
Supports and resistances:
89320 **
88350 *
87380 **
86410
84462 last
83720
83080 **
81450 *
80490 **
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