Bitcoin / Yen may rise to 9769200 - 9853200

Our pivot point stands at 9480300.

Our preference

The upside prevails as long as 9480300 is support.

Alternative scenario

Below 9480300, expect 9339300 and 9255400.

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 9368567 and 9381417). Finally, the Bitcoin / Yen is trading above its upper Bollinger band (standing at 9532574).

Supports and resistances

10021200 **

9937200 *

9853200 **

9769200

9601208 last

9535700

9480300 **

9339300 *

9255400 **

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