Bitcoin / South Korean won may rise to 89999300 - 90644800

Our pivot point stands at 87827600.

Our preference

The upside prevails as long as 87827600 is support.

Alternative scenario

The downside breakout of 87827600 would call for 86743600 and 86098300.

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 87767161 and 85969998).

Supports and resistances

91935700 **

91290200 *

90644800 **

89999300

88695282 last

88253500

87827600 **

86743600 *

86098300 **

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