Binance Coin / Dollar may rise to 609.1 - 616.2

581.9 is our pivot point.

Our preference

The upside prevails as long as 581.9 is support.

Alternative scenario

Below 581.9, expect 570.0 and 562.9.

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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 577.6 and 574.2).

Supports and resistances

630.4 **

623.3 *

616.2 **

609.1

593.8 last

586.5

581.9 **

570.0 *

562.9 **

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