Bitcoin / USD may rise to 61940 - 62640

Our pivot point stands at 59510.

Our preference

The upside prevails as long as 59510 is support.

Alternative scenario

Below 59510, expect 58330 and 57630.

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 above its 20 and 50 period moving average (respectively at 59421 and 58865).

Supports and resistances

64040 **

63340 *

62640 **

61940

60431 last

59970

59510 **

58330 *

57630 **

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