Bitcoin / South Korean won may rise to 91701400 - 92373200

Our pivot point stands at 89459100.

Our preference

Look for a drop towards 89459100 before a bounce.

Alternative scenario

The downside breakout of 89459100 would call for 88330700 and 87659000.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (90357925) but above its 50 period moving average (90261437).

Supports and resistances

93716700 **

93045000 *

92373200 **

91701400

90346907 last

89902400

89459100 **

88330700 *

87659000 **

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