Binance Coin / Dollar may rise to 585.4 - 590.6

Our pivot point is at 567.7.

Our preference

The upside prevails as long as 567.7 is support.

Alternative scenario

The downside breakout of 567.7 would call for 559 and 553.8.

Comment

The RSI is above 50. 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 570.1 and 570.7).

Supports and resistances

601.0 **

595.8 *

590.6 **

585.4

575.1 last

571.1

567.7 **

559.0 *

553.8 **

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