Bitcoin / USD may rise to 60030 - 60560

57480 is our pivot point.

Our preference

The upside prevails as long as 57480 is support.

Alternative scenario

Below 57480, expect 56610 and 56080.

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 above its 20 and 50 period moving average (respectively at 57897 and 57612). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 58352).

Supports and resistances

61620 **

61090 *

60560 **

60030

58657 last

57830

57480 **

56610 *

56080 **

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