Bitcoin / Euro may fall to 57610 - 58120

Our pivot point stands at 60030.

Our preference

The downside prevails as long as 60030 is resistance.

Alternative scenario

Above 60030, look for 60880 and 61390.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). 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 59952 and 60634).

Supports and resistances

61390 **

60880 *

60030 **

59690

59133 last

58120

57610 **

57100 *

56600 **

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