Bitcoin / USD may rise to 62860 - 63600

Our pivot point stands at 60070.

Our preference

The upside prevails as long as 60070 is support.

Alternative scenario

Below 60070, expect 58850 and 58120.

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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 59854 and 59554). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (61061).

Supports and resistances

65060 **

64330 *

63600 **

62860

61374 last

60550

60070 **

58850 *

58120 **

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