Bitcoin / Yen may fall to 7862800 - 7931400

Our pivot point stands at 8164400.

Our preference

The downside prevails as long as 8164400 is resistance.

Alternative scenario

Above 8164400, look for 8279800 and 8348500.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 8279876 and 8207915).

Supports and resistances

8348500 **

8279800 *

8164400 **

8119100

8073759 last

7931400

7862800 **

7794200 *

7725500 **

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