Bitcoin / South Korean won may rise to 88446200 - 89080600

85880800 is our pivot point.

Our preference

The upside prevails as long as 85880800 is support.

Alternative scenario

The downside breakout of 85880800 would call for 84820800 and 84189900.

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 85162753 and 84961109).

Supports and resistances

90349200 **

89714900 *

89080600 **

88446200

86959652 last

86297200

85880800 **

84820800 *

84189900 **

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