Bitcoin / Euro may fall to 53040 - 53510

Our pivot point stands at 55200.

Our preference

The downside prevails as long as 55200 is resistance.

Alternative scenario

The upside breakout of 55200, would call for 55980 and 56450.

Comment

The RSI is below its neutrality area at 50. 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 55315 and 55463).

Supports and resistances

56450 **

55980 *

55200 **

54890

54559 last

53510

53040 **

52580 *

52110 **

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