Binance Coin / Dollar may rise to 622.5 - 628.0

Our pivot point is at 601.9.

Our preference

The upside prevails as long as 601.9 is support.

Alternative scenario

Below 601.9, expect 592.8 and 587.4.

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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 602.6 and 599.1).

Supports and resistances

638.8 **

633.4 *

628.0 **

622.5

610.4 last

605.4

601.9 **

592.8 *

587.4 **

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