Bitcoin / Yen may fall to 8576800 - 8651700

Our pivot point stands at 9007700.

Our preference

Technical rebound towards 9007700 before a new drop.

Alternative scenario

Above 9007700, look for 9135000 and 9210800.

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 its 20 period moving average (8695674) but under its 50 period moving average (8836412).

Supports and resistances

9210800 **

9135000 *

9007700 **

8957700

8807251 last

8651700

8576800 **

8502000 *

8427100 **

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