Bitcoin / Euro may fall to 51540 - 52000

Our pivot point stands at 53670.

Our preference

Target 51540.

Alternative scenario

The upside breakout of 53670, would call for 54440 and 54900.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (53008) but above its 50 period moving average (52774).

Supports and resistances

54900 **

54440 *

53670 **

53370

52918 last

52000

51540 **

51080 *

50630 **

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