Bitcoin / USD may fall to 61390 - 61980

Our pivot point stands at 63990.

Our preference

The downside prevails as long as 63990 is resistance.

Alternative scenario

The upside breakout of 63990, would call for 64980 and 65570.

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 63849 and 64149). Finally, the Bitcoin / Dollar is trading below its lower Bollinger band (standing at 63265).

Supports and resistances

65570 **

64980 *

63990 **

63610

63221 last

61980

61390 **

60810 *

60220 **

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