Bitcoin Intraday: the RSI is oversold

Apr 2, 2025 11:05 PM

the downside prevails as long as 84040 is resistance.

Our pivot point stands at 84040.
Our preference:
the downside prevails as long as 84040 is resistance.
Alternative scenario:
the upside breakout of 84040, would call for 85630 and 86580.
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 stands below its 20 and 50 period moving average (respectively at 85654 and 85102). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 82874).
Supports and resistances:
86580 **
85630 *
84040 **
83410
82350 last
80250
79310 **
78370 *
77420 **

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