Bitcoin / USD may rise to 70790 - 71570

Our pivot point stands at 68210.

Our preference

The upside prevails as long as 68210 is support.

Alternative scenario

The downside breakout of 68210 would call for 66910 and 66140.

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 68467 and 68083).

Supports and resistances

73110 **

72340 *

71570 **

70790

69237 last

68720

68210 **

66910 *

66140 **

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