Bitcoin / Yen may fall to 8408300 - 8481700

Our pivot point stands at 8744600.

Our preference

The downside prevails as long as 8744600 is resistance.

Alternative scenario

The upside breakout of 8744600, would call for 8868200 and 8941800.

Comment

The RSI is below its neutrality area at 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 8780291 and 8883157).

Supports and resistances

8941800 **

8868200 *

8744600 **

8696100

8641603 last

8481700

8408300 **

8334900 *

8261500 **

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