Bitcoin / Yen may rise to 10618200 - 10707100

Our pivot point stands at 10302400.

Our preference

The upside prevails as long as 10302400 is support.

Alternative scenario

The downside breakout of 10302400 would call for 10153500 and 10064900.

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 10236067 and 10106051).

Supports and resistances

10884700 **

10795900 *

10707100 **

10618200

10426745 last

10360900

10302400 **

10153500 *

10064900 **

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