Bitcoin / South Korean won may rise to 96561400 - 97426800

Our pivot point is at 93146000.

Our preference

Look for a drop towards 93146000 before a bounce.

Alternative scenario

Below 93146000, expect 91700600 and 90840300.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (94868101) but above its 50 period moving average (94679456).

Supports and resistances

99157500 **

98292200 *

97426800 **

96561400

94802682 last

93713900

93146000 **

91700600 *

90840300 **

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