Bitcoin / South Korean won may rise to 97886000 - 98789300

Our pivot point is at 94865500.

Our preference

Look for a drop towards 94865500 before a bounce.

Alternative scenario

The downside breakout of 94865500 would call for 93348200 and 92445100.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (96084108) but above its 50 period moving average (96024759).

Supports and resistances

100596000 **

99692600 *

98789300 **

97886000

96059893 last

95461500

94865500 **

93348200 *

92445100 **

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