Bitcoin / Euro may fall to 51250 - 51880

Our pivot point is at 54120.

Our preference

Technical rebound towards 54120 before a new drop.

Alternative scenario

The upside breakout of 54120, would call for 55180 and 55810.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (52991) but under its 50 period moving average (53206).

Supports and resistances

55810 **

55180 *

54120 **

53700

53205 last

51880

51250 **

50610 *

49980 **

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