Bitcoin / Yen may fall to 8239500 - 8345400

8771200 is our pivot point.

Our preference

The downside prevails as long as 8771200 is resistance.

Alternative scenario

The upside breakout of 8771200, would call for 8950500 and 9057200.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 8727428 and 8819795).

Supports and resistances

9057200 **

8950500 *

8771200 **

8700700

8587419 last

8345400

8239500 **

8133700 *

8027900 **

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