Bitcoin / Euro may rise to 59910 - 60420

Our pivot point stands at 58090.

Our preference

The upside prevails as long as 58090 is support.

Alternative scenario

Below 58090, expect 57250 and 56740.

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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 57488 and 57343). Finally, the Bitcoin / Euro is trading above its upper Bollinger band (standing at 58459).

Supports and resistances

61420 **

60920 *

60420 **

59910

58897 last

58420

58090 **

57250 *

56740 **

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