Bitcoin / USD may fall to 59240 - 59790

Our pivot point stands at 61810.

Our preference

The downside prevails as long as 61810 is resistance.

Alternative scenario

Above 61810, look for 62730 and 63280.

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 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 61783 and 62067).

Supports and resistances

63280 **

62730 *

61810 **

61450

61015 last

59790

59240 **

58700 *

58150 **

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