Bitcoin / Euro may fall to 53850 - 54330

Our pivot point stands at 56160.

Our preference

Target 53850.

Alternative scenario

The upside breakout of 56160, would call for 56960 and 57440.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (55761) but above its 50 period moving average (55260).

Supports and resistances

57440 **

56960 *

56160 **

55840

55529 last

54330

53850 **

53380 *

52900 **

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