Bitcoin / Euro may fall to 60020 - 60680

Our pivot point stands at 63160.

Our preference

The downside prevails as long as 63160 is resistance.

Alternative scenario

The upside breakout of 63160, would call for 64270 and 64940.

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 63526 and 63550). Finally, the Bitcoin / Euro is trading below its lower Bollinger band (standing at 62183).

Supports and resistances

64940 **

64270 *

63160 **

62720

62179 last

60680

60020 **

59360 *

58700 **

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