Bitcoin / Yen may rise to 9057300 - 9166600

8641200 is our pivot point.

Our preference

The upside prevails as long as 8641200 is support.

Alternative scenario

The downside breakout of 8641200 would call for 8458700 and 8350100.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 8686625 and 8684850).

Supports and resistances

9385200 **

9275900 *

9166600 **

9057300

8834846 last

8712900

8641200 **

8458700 *

8350100 **

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