Bitcoin / USD may fall to 56040 - 56720

Our pivot point is at 59290.

Our preference

The downside prevails as long as 59290 is resistance.

Alternative scenario

Above 59290, look for 60420 and 61100.

Comment

The RSI is below 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 58935 and 59970). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (58389).

Supports and resistances

61100 **

60420 *

59290 **

58840

58289 last

56720

56040 **

55370 *

54700 **

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