Bitcoin / Yen may fall to 8312500 - 8420900

Our pivot point stands at 8828500.

Our preference

The downside prevails as long as 8828500 is resistance.

Alternative scenario

The upside breakout of 8828500, would call for 9011500 and 9120400.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 8839098 and 8729619).

Supports and resistances

9120400 **

9011500 *

8828500 **

8756600

8683425 last

8420900

8312500 **

8204200 *

8095800 **

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