Bitcoin / Yen may rise to 8889100 - 8997700

Our pivot point stands at 8449600.

Our preference

Rebound towards 8997700.

Alternative scenario

The downside breakout of 8449600 would call for 8268900 and 8161300.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 8609626 and 8865805).

Supports and resistances

9214800 **

9106200 *

8997700 **

8889100

8593818 last

8520600

8449600 **

8268900 *

8161300 **

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