Bitcoin / Yen may rise to 10048400 - 10134800

9725700 is our pivot point.

Our preference

The upside prevails as long as 9725700 is support.

Alternative scenario

Below 9725700, expect 9581100 and 9495000.

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 9657422 and 9483995).

Supports and resistances

10307600 **

10221200 *

10134800 **

10048400

9874767 last

9782500

9725700 **

9581100 *

9495000 **

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