Bitcoin / Euro may rise to 59600 - 60120

Our pivot point stands at 57720.

Our preference

Look for a drop towards 57720 before a bounce.

Alternative scenario

Below 57720, expect 56850 and 56330.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under its 20 period moving average (58559) but above its 50 period moving average (58245).

Supports and resistances

61160 **

60640 *

60120 **

59600

58432 last

58060

57720 **

56850 *

56330 **

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