Bitcoin / USD may rise to 69360 - 69940

Our pivot point stands at 67290.

Our preference

The upside prevails as long as 67290 is support.

Alternative scenario

Below 67290, expect 66330 and 65760.

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 67544 and 67156).

Supports and resistances

71080 **

70510 *

69940 **

69360

68215 last

67660

67290 **

66330 *

65760 **

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