Bitcoin / USD may rise to 65580 - 66150

Our pivot point stands at 63450.

Our preference

The upside prevails as long as 63450 is support.

Alternative scenario

The downside breakout of 63450 would call for 62480 and 61900.

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 62852 and 62735). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (63906).

Supports and resistances

67310 **

66730 *

66150 **

65580

64384 last

63830

63450 **

62480 *

61900 **

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