Bitcoin / South Korean won may fall to 71005500 - 75826900

91837700 is our pivot point.

Our preference

The downside prevails as long as 91837700 is resistance.

Alternative scenario

Above 91837700, look for 99938100 and 104759700.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (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 93374764 and 92986984). Finally, the Bitcoin / South Korean won is trading below its lower Bollinger band (standing at 85620483).

Supports and resistances

104759700 **

99938100 *

91837700 **

88655400

85472899 last

75826900

71005500 **

66184000 *

61362600 **

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