Bitcoin / USD may rise to 61890 - 62400

Our pivot point is at 60120.

Our preference

Rebound towards 62400.

Alternative scenario

Below 60120, expect 59260 and 58740.

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 above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 61253 and 61845).

Supports and resistances

63430 **

62920 *

62400 **

61890

60826 last

60460

60120 **

59260 *

58740 **

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