Bitcoin / Euro may rise to 63030 - 63560

Our pivot point stands at 60910.

Our preference

The upside prevails as long as 60910 is support.

Alternative scenario

The downside breakout of 60910 would call for 60030 and 59500.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (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 60200 and 59277).

Supports and resistances

64620 **

64090 *

63560 **

63030

61864 last

61260

60910 **

60030 *

59500 **

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