Bitcoin / USD may rise to 68610 - 69200

Our pivot point stands at 66230.

Our preference

The upside prevails as long as 66230 is support.

Alternative scenario

The downside breakout of 66230 would call for 65240 and 64650.

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 trading above both its 20 and 50 period moving average (respectively at 65522 and 64536).

Supports and resistances

70380 **

69790 *

69200 **

68610

67308 last

66610

66230 **

65240 *

64650 **

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