Bitcoin / South Korean won may fall to 87438000 - 88154300

Our pivot point is at 90971200.

Our preference

The downside prevails as long as 90971200 is resistance.

Alternative scenario

The upside breakout of 90971200, would call for 92180500 and 92900300.

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 negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 91125288 and 91654859).

Supports and resistances

92900300 **

92180500 *

90971200 **

90496100

89657482 last

88154300

87438000 **

86721600 *

86005300 **

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