Binance Coin / Dollar may rise to 583.0 - 588.6

Our pivot point is at 561.9.

Our preference

Rebound towards 588.6.

Alternative scenario

The downside breakout of 561.9 would call for 552.6 and 547.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (570.3) but below its 50 period moving average (573.5).

Supports and resistances

599.8 **

594.2 *

588.6 **

583.0

570.5 last

565.6

561.9 **

552.6 *

547.0 **

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