Binance Coin / Dollar may rise to 719.5 - 725.7

Our pivot point is at 694.6.

Our preference

The upside prevails as long as 694.6 is support.

Alternative scenario

The downside breakout of 694.6 would call for 684.2 and 678.

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 678.2 and 648.1).

Supports and resistances

738.2 **

732.0 *

725.7 **

719.5

705.8 last

698.7

694.6 **

684.2 *

678.0 **

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