Bitcoin / Yen may rise to 9882700 - 9967700

Our pivot point is at 9571500.

Our preference

The upside prevails as long as 9571500 is support.

Alternative scenario

The downside breakout of 9571500 would call for 9429200 and 9344500.

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 above its 20 and 50 period moving average (respectively at 9489666 and 9424524).

Supports and resistances

10137700 **

10052700 *

9967700 **

9882700

9700912 last

9627400

9571500 **

9429200 *

9344500 **

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