Bitcoin / USD may fall to 52370 - 52840

55120 is our pivot point.

Our preference

The downside prevails as long as 55120 is resistance.

Alternative scenario

The upside breakout of 55120, would call for 55920 and 56400.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (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 57583 and 59296).

Supports and resistances

56400 **

55920 *

55120 **

54810

54045 last

52840

52370 **

51900 *

51430 **

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