Binance Coin / Dollar may rise to 643.3 - 649.3

Our pivot point is at 618.2.

Our preference

The upside prevails as long as 618.2 is support.

Alternative scenario

The downside breakout of 618.2 would call for 608.1 and 602.

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 trading above both its 20 and 50 period moving average (respectively at 606.8 and 602.2). Finally, the Binance Coin / Dollar is trading above its upper Bollinger band (standing at 627.1).

Supports and resistances

661.5 **

655.4 *

649.3 **

643.3

630.6 last

622.2

618.2 **

608.1 *

602.0 **

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