Bitcoin / Yen may fall to 9895500 - 9980300

10350200 is our pivot point.

Our preference

The downside prevails as long as 10350200 is resistance.

Alternative scenario

Above 10350200, look for 10493900 and 10579500.

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 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 10326353 and 10410194).

Supports and resistances

10579500 **

10493900 *

10350200 **

10293700

10164585 last

9980300

9895500 **

9810600 *

9725800 **

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