Bitcoin / Yen may fall to 8245400 - 8351300

Our pivot point is at 8761600.

Our preference

The downside prevails as long as 8761600 is resistance.

Alternative scenario

The upside breakout of 8761600, would call for 8940700 and 9047300.

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 8684501 and 8812137).

Supports and resistances

9047300 **

8940700 *

8761600 **

8691200

8620882 last

8351300

8245400 **

8139500 *

8033700 **

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