Bitcoin / Yen may rise to 10920100 - 11011400

Our pivot point stands at 10579400.

Our preference

The upside prevails as long as 10579400 is support.

Alternative scenario

The downside breakout of 10579400 would call for 10426500 and 10335500.

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 10612573 and 10537905).

Supports and resistances

11194100 **

11102800 *

11011400 **

10920100

10730791 last

10639500

10579400 **

10426500 *

10335500 **

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