Bitcoin / Yen may fall to 8829500 - 8944600

Our pivot point stands at 9394400.

Our preference

The downside prevails as long as 9394400 is resistance.

Alternative scenario

The upside breakout of 9394400, would call for 9589100 and 9705000.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 9245529 and 9259033).

Supports and resistances

9705000 **

9589100 *

9394400 **

9317900

9178118 last

8944600

8829500 **

8714400 *

8599400 **

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