Binance Coin / Dollar may rise to 649.1 - 655.2

Our pivot point stands at 623.9.

Our preference

The upside prevails as long as 623.9 is support.

Alternative scenario

Below 623.9, expect 613.6 and 607.5.

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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 614.7 and 605.8).

Supports and resistances

667.5 **

661.4 *

655.2 **

649.1

636.0 last

627.9

623.9 **

613.6 *

607.5 **

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