Bitcoin / Yen may rise to 9048500 - 9157700

Our pivot point stands at 8662500.

Our preference

The upside prevails as long as 8662500 is support.

Alternative scenario

The downside breakout of 8662500 would call for 8479500 and 8370700.

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 8793401 and 8752901).

Supports and resistances

9376100 **

9266900 *

9157700 **

9048500

8823585 last

8734300

8662500 **

8479500 *

8370700 **

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