Bitcoin / Yen may rise to 8774800 - 8848200

Our pivot point is at 8297500.

Our preference

The upside prevails as long as 8297500 is support.

Alternative scenario

Below 8297500, expect 8177600 and 8106200.

Comment

The RSI is above its neutrality area at 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 8285957 and 8284703).

Supports and resistances

8995000 **

8921600 *

8848200 **

8774800

8530962 last

8344600

8297500 **

8177600 *

8106200 **

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