Bitcoin / Yen may rise to 11161200 - 11272800

Our pivot point is at 10758900.

Our preference

The upside prevails as long as 10758900 is support.

Alternative scenario

Below 10758900, expect 10571800 and 10460500.

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 10781007 and 10722090).

Supports and resistances

11496100 **

11384500 *

11272800 **

11161200

10934499 last

10832300

10758900 **

10571800 *

10460500 **

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