Bitcoin / Euro may rise to 53150 - 53600

Our pivot point stands at 51630.

Our preference

The upside prevails as long as 51630 is support.

Alternative scenario

The downside breakout of 51630 would call for 50880 and 50430.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 51059 and 51632).

Supports and resistances

54500 **

54050 *

53600 **

53150

52241 last

51930

51630 **

50880 *

50430 **

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