Bitcoin / South Korean won may rise to 87192700 - 88095400

Our pivot point is at 83378700.

Our preference

The upside prevails as long as 83378700 is support.

Alternative scenario

Below 83378700, expect 81876800 and 80982900.

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 82961132 and 82640957). Finally, the Bitcoin / South Korean won has crossed above its upper Bollinger band (84659984).

Supports and resistances

89900900 **

88998100 *

88095400 **

87192700

85185355 last

83968700

83378700 **

81876800 *

80982900 **

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