Bitcoin / USD may fall to 57200 - 57910

Our pivot point is at 60400.

Our preference

The downside prevails as long as 60400 is resistance.

Alternative scenario

Above 60400, look for 61610 and 62330.

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 61181 and 62125).

Supports and resistances

62330 **

61610 *

60400 **

59930

59385 last

57910

57200 **

56480 *

55760 **

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