Bitcoin / Euro may rise to 57050 - 57530

Our pivot point is at 55460.

Our preference

The upside prevails as long as 55460 is support.

Alternative scenario

Below 55460, expect 54660 and 54180.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 55648 and 55306).

Supports and resistances

58490 **

58010 *

57530 **

57050

56097 last

55780

55460 **

54660 *

54180 **

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