Bitcoin / South Korean won may fall to 77570300 - 78404000

82625000 is our pivot point.

Our preference

The downside prevails as long as 82625000 is resistance.

Alternative scenario

Above 82625000, look for 84050700 and 84899300.

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 is trading under both its 20 and 50 period moving average (respectively at 82117559 and 83323448). Finally, the Bitcoin / South Korean won has penetrated its lower Bollinger band (80648584).

Supports and resistances

84899300 **

84050700 *

82625000 **

82065000

80308817 last

78404000

77570300 **

76736600 *

75902900 **

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