Bitcoin / Euro may rise to 57840 - 58320

Our pivot point is at 56170.

Our preference

Rebound.

Alternative scenario

The downside breakout of 56170 would call for 55350 and 54870.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (56716) but below its 50 period moving average (56816).

Supports and resistances

59290 **

58810 *

58320 **

57840

56808 last

56490

56170 **

55350 *

54870 **

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