Binance Coin / Dollar may fall to 625.9 - 631.6

Our pivot point stands at 654.3.

Our preference

The downside prevails as long as 654.3 is resistance.

Alternative scenario

The upside breakout of 654.3, would call for 663.9 and 669.6.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 660.9 and 673.1).

Supports and resistances

669.6 **

663.9 *

654.3 **

650.6

644.5 last

631.6

625.9 **

620.2 *

614.5 **

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