Binance Coin / Dollar may rise to 544.8 - 551.2

Our pivot point is at 521.2.

Our preference

The upside prevails as long as 521.2 is support.

Alternative scenario

Below 521.2, expect 510.6 and 504.3.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 522.8 and 514.4).

Supports and resistances

563.9 **

557.6 *

551.2 **

544.8

531.7 last

525.4

521.2 **

510.6 *

504.3 **

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