Bitcoin / South Korean won may rise to 87173600 - 87872000

Our pivot point is at 84595000.

Our preference

Look for a drop towards 84595000 before a bounce.

Alternative scenario

The downside breakout of 84595000 would call for 83425200 and 82728900.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 85762102 and 85739627).

Supports and resistances

89268900 **

88570400 *

87872000 **

87173600

85772764 last

85054500

84595000 **

83425200 *

82728900 **

Number of asterisks represents the strength of support and resistance levels.