Bitcoin / Yen may fall to 9633600 - 9707600

Our pivot point stands at 9973300.

Our preference

The downside prevails as long as 9973300 is resistance.

Alternative scenario

Above 9973300, look for 10097900 and 10172000.

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 stands below its 20 and 50 period moving average (respectively at 10030459 and 10123631).

Supports and resistances

10172000 **

10097900 *

9973300 **

9924400

9865071 last

9707600

9633600 **

9559600 *

9485600 **

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