Bitcoin / Yen may fall to 8307700 - 8414300

Our pivot point is at 8768600.

Our preference

The downside prevails as long as 8768600 is resistance.

Alternative scenario

The upside breakout of 8768600, would call for 8947800 and 9054500.

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 8799609 and 8832427).

Supports and resistances

9054500 **

8947800 *

8768600 **

8698200

8627776 last

8414300

8307700 **

8201000 *

8094300 **

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