Bitcoin / South Korean won may fall to 72797600 - 73351100

Our pivot point stands at 76399500.

Our preference

The downside prevails as long as 76399500 is resistance.

Alternative scenario

Above 76399500, look for 77344500 and 77907000.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (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 79385940 and 83280208).

Supports and resistances

77907000 **

77344500 *

76399500 **

76028300

74489505 last

73351100

72797600 **

72244000 *

71690400 **

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