Bitcoin / USD may rise to 71440 - 72220

Our pivot point is at 68660.

Our preference

The upside prevails as long as 68660 is support.

Alternative scenario

The downside breakout of 68660 would call for 67350 and 66570.

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 above its 20 and 50 period moving average (respectively at 69046 and 68397).

Supports and resistances

73780 **

73000 *

72220 **

71440

69851 last

69170

68660 **

67350 *

66570 **

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