Bitcoin / South Korean won may fall to 80483900 - 81095900

Our pivot point is at 83246000.

Our preference

The downside prevails as long as 83246000 is resistance.

Alternative scenario

The upside breakout of 83246000, would call for 84275600 and 84888500.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 83819043 and 84822175).

Supports and resistances

84888500 **

84275600 *

83246000 **

82841500

82370727 last

81095900

80483900 **

79871900 *

79259900 **

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