Binance Coin / Dollar may fall to 578.4 - 583.6

601.9 is our pivot point.

Our preference

As long as 601.9 is resistance look for 578.4.

Alternative scenario

The upside breakout of 601.9, would call for 610.8 and 616.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading above its 20 period moving average (594.1) but under its 50 period moving average (596.1).

Supports and resistances

616.0 **

610.8 *

601.9 **

598.4

594.7 last

583.6

578.4 **

573.1 *

567.8 **

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