Bitcoin / Yen may rise to 8631400 - 8703600

Our pivot point stands at 8299100.

Our preference

The upside prevails as long as 8299100 is support.

Alternative scenario

The downside breakout of 8299100 would call for 8179100 and 8107700.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 8331592 and 8092744).

Supports and resistances

8848000 **

8775800 *

8703600 **

8631400

8446070 last

8346200

8299100 **

8179100 *

8107700 **

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