Bitcoin / Euro may rise to 55730 - 56210

Our pivot point is at 53960.

Our preference

The upside prevails as long as 53960 is support.

Alternative scenario

Below 53960, expect 53170 and 52690.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 53822 and 53426).

Supports and resistances

57150 **

56680 *

56210 **

55730

54778 last

54270

53960 **

53170 *

52690 **

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