Bitcoin / Euro may rise to 48980 - 49400

Our pivot point is at 46620.

Our preference

Rebound towards 49400.

Alternative scenario

Below 46620, expect 45940 and 45540.

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 above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 48769 and 52256).

Supports and resistances

50220 **

49810 *

49400 **

48980

47163 last

46890

46620 **

45940 *

45540 **

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