Bitcoin / South Korean won may rise to 87948500 - 88579200

Our pivot point stands at 85758700.

Our preference

The upside prevails as long as 85758700 is support.

Alternative scenario

Below 85758700, expect 84700200 and 84070200.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (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 84778447 and 84807022). Finally, the Bitcoin / South Korean won has crossed above its upper Bollinger band (86117597).

Supports and resistances

89840700 **

89210000 *

88579200 **

87948500

86667941 last

86174500

85758700 **

84700200 *

84070200 **

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