Bitcoin / South Korean won may rise to 87792300 - 88701200

Our pivot point stands at 84447800.

Our preference

The upside prevails as long as 84447800 is support.

Alternative scenario

The downside breakout of 84447800 would call for 82926700 and 82021200.

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 above its 20 and 50 period moving average (respectively at 84714108 and 83320652).

Supports and resistances

90519100 **

89610100 *

88701200 **

87792300

85967402 last

85045300

84447800 **

82926700 *

82021200 **

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