Bitcoin / Euro may fall to 55230 - 55740

Our pivot point is at 57520.

Our preference

As long as 57520 is resistance look for 55230.

Alternative scenario

The upside breakout of 57520, would call for 58370 and 58870.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above its 20 period moving average (56822) but under its 50 period moving average (56874).

Supports and resistances

58870 **

58370 *

57520 **

57190

56853 last

55740

55230 **

54730 *

54230 **

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