Bitcoin / Euro may fall to 57740 - 58250

Our pivot point is at 59990.

Our preference

The downside prevails as long as 59990 is resistance.

Alternative scenario

The upside breakout of 59990, would call for 60850 and 61360.

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 stands below its 20 and 50 period moving average (respectively at 60238 and 60786).

Supports and resistances

61360 **

60850 *

59990 **

59660

59268 last

58250

57740 **

57230 *

56730 **

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