Bitcoin / Euro may fall to 58460 - 58970

Our pivot point is at 61630.

Our preference

The downside prevails as long as 61630 is resistance.

Alternative scenario

The upside breakout of 61630, would call for 62510 and 63030.

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 61175 and 61156). Finally, the Bitcoin / Euro is trading below its lower Bollinger band (standing at 60521).

Supports and resistances

63030 **

62510 *

61630 **

61280

60255 last

58970

58460 **

57940 *

57430 **

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