Bitcoin / Euro may fall to 59270 - 59850

Our pivot point stands at 62030.

Our preference

The downside prevails as long as 62030 is resistance.

Alternative scenario

Above 62030, look for 63010 and 63590.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (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 61619 and 61946).

Supports and resistances

63590 **

63010 *

62030 **

61650

61000 last

59850

59270 **

58690 *

58110 **

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