Bitcoin / USD may rise to 58370 - 58870

Our pivot point is at 56560.

Our preference

The upside prevails as long as 56560 is support.

Alternative scenario

The downside breakout of 56560 would call for 55710 and 55210.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 56705 and 56402).

Supports and resistances

59870 **

59370 *

58870 **

58370

57361 last

56890

56560 **

55710 *

55210 **

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