Bitcoin / USD may fall to 55820 - 56340

Our pivot point stands at 58280.

Our preference

The downside prevails as long as 58280 is resistance.

Alternative scenario

The upside breakout of 58280, would call for 59150 and 59670.

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 58052 and 57889).

Supports and resistances

59670 **

59150 *

58280 **

57940

57523 last

56340

55820 **

55310 *

54790 **

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