Bitcoin / South Korean won may fall to 81484900 - 82052000

Our pivot point is at 84058400.

Our preference

The downside prevails as long as 84058400 is resistance.

Alternative scenario

Above 84058400, look for 85012500 and 85580400.

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 85134901 and 86521919). Finally, the Bitcoin / South Korean won has penetrated its lower Bollinger band (83713750).

Supports and resistances

85580400 **

85012500 *

84058400 **

83683600

83186622 last

82052000

81484900 **

80917900 *

80350800 **

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