Bitcoin / Yen may rise to 8530400 - 8601800

8293500 is our pivot point.

Our preference

The upside prevails as long as 8293500 is support.

Alternative scenario

The downside breakout of 8293500 would call for 8173700 and 8102300.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 8281907 and 8234637).

Supports and resistances

8744500 **

8673100 *

8601800 **

8530400

8387723 last

8340600

8293500 **

8173700 *

8102300 **

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