Bitcoin / Yen may fall to 8153100 - 8257800

Our pivot point is at 8785300.

Our preference

The downside prevails as long as 8785300 is resistance.

Alternative scenario

The upside breakout of 8785300, would call for 8964900 and 9071800.

Comment

The RSI is below its neutrality area at 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 8695991 and 8803366).

Supports and resistances

9071800 **

8964900 *

8785300 **

8714800

8508205 last

8257800

8153100 **

8048400 *

7943700 **

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