Bitcoin / South Korean won may rise to 95712900 - 96409000

Our pivot point stands at 93381000.

Our preference

The upside prevails as long as 93381000 is support.

Alternative scenario

Below 93381000, expect 92211800 and 91515900.

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 trading above both its 20 and 50 period moving average (respectively at 93681651 and 93380990). Finally, the Bitcoin / South Korean won has crossed above its upper Bollinger band (94312608).

Supports and resistances

97801200 **

97105100 *

96409000 **

95712900

94314858 last

93840300

93381000 **

92211800 *

91515900 **

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