Bitcoin / USD may fall to 55970 - 56490

Our pivot point stands at 58430.

Our preference

The downside prevails as long as 58430 is resistance.

Alternative scenario

The upside breakout of 58430, would call for 59300 and 59820.

Comment

The RSI is below its neutrality area at 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 58470 and 58129).

Supports and resistances

59820 **

59300 *

58430 **

58080

57726 last

56490

55970 **

55450 *

54930 **

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