Bitcoin / Yen may fall to 9179800 - 9250300

Our pivot point stands at 9522800.

Our preference

The downside prevails as long as 9522800 is resistance.

Alternative scenario

Above 9522800, look for 9641700 and 9712500.

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 9641898 and 9845363).

Supports and resistances

9712500 **

9641700 *

9522800 **

9476100

9391319 last

9250300

9179800 **

9109300 *

9038800 **

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