Bitcoin / South Korean won may rise to 88675900 - 89311800

Our pivot point stands at 86248700.

Our preference

The upside prevails as long as 86248700 is support.

Alternative scenario

The downside breakout of 86248700 would call for 85184100 and 84550500.

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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 85738599 and 85150953).

Supports and resistances

90583800 **

89947800 *

89311800 **

88675900

87266058 last

86666900

86248700 **

85184100 *

84550500 **

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