Bitcoin / USD may rise to 61190 - 61880

Our pivot point stands at 58740.

Our preference

The upside prevails as long as 58740 is support.

Alternative scenario

Below 58740, expect 57580 and 56890.

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 58615 and 58148).

Supports and resistances

63270 **

62570 *

61880 **

61190

59747 last

59200

58740 **

57580 *

56890 **

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