Bitcoin / USD may rise to 57970 - 58470

Our pivot point is at 56220.

Our preference

Our next up target stands at 58470.

Alternative scenario

The downside breakout of 56220 would call for 55380 and 54890.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 55405 and 56323). Finally, the Bitcoin / Dollar is trading above its upper Bollinger band (standing at 56665).

Supports and resistances

59460 **

58970 *

58470 **

57970

56968 last

56550

56220 **

55380 *

54890 **

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