Bitcoin / Yen may fall to 8286800 - 8394600

Our pivot point is at 8752400.

Our preference

The downside prevails as long as 8752400 is resistance.

Alternative scenario

Above 8752400, look for 8933500 and 9041300.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 8895486 and 9071718).

Supports and resistances

9041300 **

8933500 *

8752400 **

8681300

8610143 last

8394600

8286800 **

8179000 *

8071200 **

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