Bitcoin / South Korean won may rise to 95437800 - 96137000

Our pivot point stands at 92353100.

Our preference

The upside prevails as long as 92353100 is support.

Alternative scenario

The downside breakout of 92353100 would call for 91188200 and 90494700.

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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 90776316 and 90356380). Finally, the Bitcoin / South Korean won is trading above its upper Bollinger band (standing at 93723401).

Supports and resistances

97535300 **

96836100 *

96137000 **

95437800

93752161 last

92810800

92353100 **

91188200 *

90494700 **

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