Bitcoin / South Korean won may rise to 89784300 - 90428200

87272400 is our pivot point.

Our preference

The upside prevails as long as 87272400 is support.

Alternative scenario

Below 87272400, expect 86195200 and 85554000.

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 above its 20 and 50 period moving average (respectively at 86955007 and 85603775).

Supports and resistances

91716000 **

91072100 *

90428200 **

89784300

88495285 last

87695500

87272400 **

86195200 *

85554000 **

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