Bitcoin / Yen may fall to 8371700 - 8444800

8782400 is our pivot point.

Our preference

The downside prevails as long as 8782400 is resistance.

Alternative scenario

The upside breakout of 8782400, would call for 8906600 and 8980400.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 8824836 and 8936361).

Supports and resistances

8980400 **

8906600 *

8782400 **

8733700

8603954 last

8444800

8371700 **

8298600 *

8225600 **

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