Bitcoin / Euro may rise to 54220 - 54650

52730 is our pivot point.

Our preference

The upside prevails as long as 52730 is support.

Alternative scenario

The downside breakout of 52730 would call for 52020 and 51590.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 52844 and 52422).

Supports and resistances

55500 **

55070 *

54650 **

54220

53305 last

53010

52730 **

52020 *

51590 **

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