Bitcoin / USD may fall to 52750 - 53200

Our pivot point stands at 55330.

Our preference

The downside prevails as long as 55330 is resistance.

Alternative scenario

Above 55330, look for 56110 and 56570.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 56678 and 57429).

Supports and resistances

56570 **

56110 *

55330 **

55030

54655 last

53200

52750 **

52290 *

51830 **

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