Bitcoin / South Korean won may rise to 88469100 - 89177900

Our pivot point stands at 85873500.

Our preference

The upside prevails as long as 85873500 is support.

Alternative scenario

The downside breakout of 85873500 would call for 84686100 and 83979300.

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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 86277165 and 85874855).

Supports and resistances

90595500 **

89886700 *

89177900 **

88469100

87020070 last

86340000

85873500 **

84686100 *

83979300 **

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