Bitcoin / South Korean won may fall to 78246700 - 79099200

Our pivot point is at 82059800.

Our preference

The downside prevails as long as 82059800 is resistance.

Alternative scenario

Above 82059800, look for 83494200 and 84348100.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 83307296 and 84401909). Finally, the Bitcoin / South Korean won has penetrated its lower Bollinger band (80921508).

Supports and resistances

84348100 **

83494200 *

82059800 **

81496200

80808316 last

79099200

78246700 **

77394200 *

76541700 **

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