Bitcoin / Yen may rise to 9008300 - 9118500

Our pivot point stands at 8545800.

Our preference

Rebound.

Alternative scenario

The downside breakout of 8545800 would call for 8362700 and 8253700.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (8674624) but below its 50 period moving average (8722245).

Supports and resistances

9338900 **

9228700 *

9118500 **

9008300

8721571 last

8617700

8545800 **

8362700 *

8253700 **

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