Bitcoin / Yen may rise to 9535700 - 9652400

Our pivot point stands at 9106600.

Our preference

The upside prevails as long as 9106600 is support.

Alternative scenario

The downside breakout of 9106600 would call for 8911500 and 8795400.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (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 9139454 and 8993133).

Supports and resistances

9885800 **

9769100 *

9652400 **

9535700

9300800 last

9183300

9106600 **

8911500 *

8795400 **

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