Bitcoin / USD may rise to 60360 - 60890

Our pivot point stands at 58400.

Our preference

The upside prevails as long as 58400 is support.

Alternative scenario

The downside breakout of 58400 would call for 57500 and 56970.

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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 58251 and 57816).

Supports and resistances

61960 **

61420 *

60890 **

60360

59290 last

58750

58400 **

57500 *

56970 **

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