Bitcoin / Yen may rise to 10159100 - 10244100

Our pivot point stands at 9854400.

Our preference

The upside prevails as long as 9854400 is support.

Alternative scenario

The downside breakout of 9854400 would call for 9712000 and 9627200.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (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 9885772 and 9836669).

Supports and resistances

10414000 **

10329100 *

10244100 **

10159100

9978726 last

9910400

9854400 **

9712000 *

9627200 **

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