Bitcoin / South Korean won may fall to 78902200 - 79750200

Our pivot point is at 83059500.

Our preference

The downside prevails as long as 83059500 is resistance.

Alternative scenario

Above 83059500, look for 84492600 and 85345700.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 82803715 and 83595903).

Supports and resistances

85345700 **

84492600 *

83059500 **

82496500

81616656 last

79750200

78902200 **

78054200 *

77206200 **

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