Bitcoin / South Korean won may fall to 78131900 - 78971600

Our pivot point stands at 81990100.

Our preference

The downside prevails as long as 81990100 is resistance.

Alternative scenario

The upside breakout of 81990100, would call for 83404800 and 84246900.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 82057355 and 82542084).

Supports and resistances

84246900 **

83404800 *

81990100 **

81434300

80834053 last

78971600

78131900 **

77292200 *

76452500 **

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