Bitcoin / South Korean won may fall to 78051100 - 78889900

Our pivot point stands at 82042300.

Our preference

The downside prevails as long as 82042300 is resistance.

Alternative scenario

Above 82042300, look for 83457900 and 84300600.

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 stands below its 20 and 50 period moving average (respectively at 82321376 and 82609507).

Supports and resistances

84300600 **

83457900 *

82042300 **

81486200

80915211 last

78889900

78051100 **

77212200 *

76373400 **

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