Bitcoin / Yen may rise to 8936300 - 9011100

Our pivot point is at 8638400.

Our preference

Rebound.

Alternative scenario

The downside breakout of 8638400 would call for 8513500 and 8439200.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (8719870) but under its 50 period moving average (8797564).

Supports and resistances

9160600 **

9085800 *

9011100 **

8936300

8778232 last

8687500

8638400 **

8513500 *

8439200 **

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