Bitcoin / South Korean won may rise to 97949300 - 98827100

Our pivot point stands at 94635200.

Our preference

The upside prevails as long as 94635200 is support.

Alternative scenario

Below 94635200, expect 93166700 and 92292600.

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 95407398 and 95026178). Finally, the Bitcoin / South Korean won is trading above its upper Bollinger band (standing at 96021547).

Supports and resistances

100582700 **

99704900 *

98827100 **

97949300

96187851 last

95212100

94635200 **

93166700 *

92292600 **

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