Binance Coin / Dollar may fall to 551.5 - 558.3

Our pivot point is at 583.1.

Our preference

The downside prevails as long as 583.1 is resistance.

Alternative scenario

The upside breakout of 583.1, would call for 594.6 and 601.4.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 579.2 and 582.4).

Supports and resistances

601.4 **

594.6 *

583.1 **

578.5

572.0 last

558.3

551.5 **

544.7 *

537.8 **

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