Bitcoin / South Korean won may fall to 91068600 - 91923100

95565900 is our pivot point.

Our preference

The downside prevails as long as 95565900 is resistance.

Alternative scenario

The upside breakout of 95565900, would call for 97013500 and 97875200.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 95793616 and 95899235). Finally, the Bitcoin / South Korean won is trading below its lower Bollinger band (standing at 94095486).

Supports and resistances

97875200 **

97013500 *

95565900 **

94997200

93633258 last

91923100

91068600 **

90214200 *

89359800 **

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