Bitcoin / South Korean won may fall to 87182400 - 87896600

Our pivot point is at 90277400.

Our preference

The downside prevails as long as 90277400 is resistance.

Alternative scenario

The upside breakout of 90277400, would call for 91477500 and 92191800.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 90316614 and 90662516).

Supports and resistances

92191800 **

91477500 *

90277400 **

89806000

89334188 last

87896600

87182400 **

86468100 *

85753900 **

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