Bitcoin / Euro may rise to 57830 - 58320

Our pivot point stands at 56160.

Our preference

Rebound.

Alternative scenario

The downside breakout of 56160 would call for 55340 and 54860.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (56713) but below its 50 period moving average (56833).

Supports and resistances

59290 **

58810 *

58320 **

57830

56797 last

56480

56160 **

55340 *

54860 **

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