Bitcoin / Euro may fall to 53940 - 54420

Our pivot point stands at 56040.

Our preference

The downside prevails as long as 56040 is resistance.

Alternative scenario

The upside breakout of 56040, would call for 56840 and 57310.

Comment

The RSI is below its neutrality area at 50. 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 55926 and 56403).

Supports and resistances

57310 **

56840 *

56040 **

55730

55361 last

54420

53940 **

53470 *

53000 **

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