Bitcoin / Yen may fall to 8675100 - 8788000

Our pivot point stands at 9203000.

Our preference

The downside prevails as long as 9203000 is resistance.

Alternative scenario

Above 9203000, look for 9393400 and 9506800.

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 9135112 and 9200778).

Supports and resistances

9506800 **

9393400 *

9203000 **

9128200

9044829 last

8788000

8675100 **

8562300 *

8449400 **

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