Bitcoin / South Korean won may rise to 98720900 - 99605600

Our pivot point is at 95428800.

Our preference

The upside prevails as long as 95428800 is support.

Alternative scenario

Below 95428800, expect 93948000 and 93066500.

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 95669856 and 95200963). Finally, the Bitcoin / South Korean won has crossed above its upper Bollinger band (96789406).

Supports and resistances

101375000 **

100490300 *

99605600 **

98720900

96866512 last

96010500

95428800 **

93948000 *

93066500 **

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