Bitcoin / Euro may rise to 56140 - 56800

53840 is our pivot point.

Our preference

The upside prevails as long as 53840 is support.

Alternative scenario

The downside breakout of 53840 would call for 52720 and 52050.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 54574 and 54198).

Supports and resistances

58140 **

57470 *

56800 **

56140

54799 last

54280

53840 **

52720 *

52050 **

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