Bitcoin / Yen may fall to 8653700 - 8720100

Our pivot point is at 8992800.

Our preference

The downside prevails as long as 8992800 is resistance.

Alternative scenario

The upside breakout of 8992800, would call for 9105100 and 9172000.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 9098929 and 9175461).

Supports and resistances

9172000 **

9105100 *

8992800 **

8948700

8896206 last

8720100

8653700 **

8587200 *

8520800 **

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