Bitcoin / USD may rise to 70970 - 71580

Our pivot point is at 68730.

Our preference

The upside prevails as long as 68730 is support.

Alternative scenario

Below 68730, expect 67710 and 67100.

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 above its 20 and 50 period moving average (respectively at 68742 and 68132).

Supports and resistances

72810 **

72190 *

71580 **

70970

69682 last

69130

68730 **

67710 *

67100 **

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