Bitcoin / Yen may rise to 11102700 - 11213800

Our pivot point stands at 10678200.

Our preference

The upside prevails as long as 10678200 is support.

Alternative scenario

The downside breakout of 10678200 would call for 10492600 and 10382100.

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 10741378 and 10700970). Finally, the Bitcoin / Yen has crossed above its upper Bollinger band (10877258).

Supports and resistances

11435900 **

11324900 *

11213800 **

11102700

10880531 last

10751100

10678200 **

10492600 *

10382100 **

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