Bitcoin / South Korean won may fall to 75786100 - 76313500

79092500 is our pivot point.

Our preference

The downside prevails as long as 79092500 is resistance.

Alternative scenario

Above 79092500, look for 79990200 and 80524600.

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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 81779657 and 83546157). Finally, the Bitcoin / South Korean won has penetrated its lower Bollinger band (78184646).

Supports and resistances

80524600 **

79990200 *

79092500 **

78739900

77767131 last

76313500

75786100 **

75258700 *

74731300 **

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