Binance Coin / Dollar may fall to 569.5 - 575.2

597.1 is our pivot point.

Our preference

The downside prevails as long as 597.1 is resistance.

Alternative scenario

Above 597.1, look for 606.7 and 612.3.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 594.7 and 597.9). Finally, the Binance Coin / Dollar has penetrated its lower Bollinger band (589.8).

Supports and resistances

612.3 **

606.7 *

597.1 **

593.4

587.6 last

575.2

569.5 **

563.9 *

558.2 **

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