Bitcoin / USD may fall to 55900 - 56420

Our pivot point is at 58210.

Our preference

The downside prevails as long as 58210 is resistance.

Alternative scenario

The upside breakout of 58210, would call for 59080 and 59600.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 57922 and 58149).

Supports and resistances

59600 **

59080 *

58210 **

57870

57499 last

56420

55900 **

55390 *

54870 **

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