Bitcoin / Yen may fall to 9461200 - 9543800

Our pivot point stands at 9818100.

Our preference

The downside prevails as long as 9818100 is resistance.

Alternative scenario

Above 9818100, look for 9956800 and 10039400.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 9943755 and 10113582).

Supports and resistances

10039400 **

9956800 *

9818100 **

9763600

9709008 last

9543800

9461200 **

9378600 *

9296000 **

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