Bitcoin / USD may fall to 59240 - 59750

61540 is our pivot point.

Our preference

The downside prevails as long as 61540 is resistance.

Alternative scenario

Above 61540, look for 62410 and 62920.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 61660 and 62159).

Supports and resistances

62920 **

62410 *

61540 **

61200

60791 last

59750

59240 **

58720 *

58210 **

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