Bitcoin / Yen may rise to 8542200 - 8613600

8270100 is our pivot point.

Our preference

The upside prevails as long as 8270100 is support.

Alternative scenario

The downside breakout of 8270100 would call for 8150600 and 8079400.

Comment

The RSI is above its neutrality area at 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 8261614 and 8252694).

Supports and resistances

8756500 **

8685100 *

8613600 **

8542200

8392798 last

8317100

8270100 **

8150600 *

8079400 **

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