Binance Coin / Dollar may rise to 621.6 - 627.4

Our pivot point is at 600.1.

Our preference

The upside prevails as long as 600.1 is support.

Alternative scenario

The downside breakout of 600.1 would call for 590.2 and 584.4.

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 trading above both its 20 and 50 period moving average (respectively at 601.7 and 599.8). Finally, the Binance Coin / Dollar has crossed above its upper Bollinger band (608.7).

Supports and resistances

639.2 **

633.3 *

627.4 **

621.6

609.0 last

603.9

600.1 **

590.2 *

584.4 **

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