Bitcoin / Yen may fall to 9872700 - 9957300

Our pivot point is at 10238300.

Our preference

The downside prevails as long as 10238300 is resistance.

Alternative scenario

The upside breakout of 10238300, would call for 10380600 and 10465200.

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 stands below its 20 and 50 period moving average (respectively at 10254665 and 10275756). Finally, the Bitcoin / Yen has penetrated its lower Bollinger band (10143470).

Supports and resistances

10465200 **

10380600 *

10238300 **

10182500

10126616 last

9957300

9872700 **

9788000 *

9703400 **

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