Bitcoin / Yen may fall to 8491000 - 8601700

Our pivot point stands at 8998000.

Our preference

Target 8491000.

Alternative scenario

Above 8998000, look for 9184500 and 9295500.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (8876556) but above its 50 period moving average (8784644).

Supports and resistances

9295500 **

9184500 *

8998000 **

8924700

8844810 last

8601700

8491000 **

8380300 *

8269700 **

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