Bitcoin / USD may rise to 62070 - 62770

59690 is our pivot point.

Our preference

The upside prevails as long as 59690 is support.

Alternative scenario

The downside breakout of 59690 would call for 58510 and 57810.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (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 59761 and 59021).

Supports and resistances

64180 **

63470 *

62770 **

62070

60660 last

60160

59690 **

58510 *

57810 **

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