Bitcoin / South Korean won may fall to 80683400 - 81244900

Our pivot point is at 83647300.

Our preference

The downside prevails as long as 83647300 is resistance.

Alternative scenario

Above 83647300, look for 84596700 and 85161800.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 84479873 and 85898891).

Supports and resistances

85161800 **

84596700 *

83647300 **

83274300

82373152 last

81244900

80683400 **

80122000 *

79560500 **

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