Bitcoin / USD may fall to 54750 - 55410

Our pivot point stands at 58140.

Our preference

The downside prevails as long as 58140 is resistance.

Alternative scenario

Above 58140, look for 59260 and 59920.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 58820 and 58673).

Supports and resistances

59920 **

59260 *

58140 **

57700

57190 last

55410

54750 **

54090 *

53440 **

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