Bitcoin / USD may fall to 48530 - 52440

Our pivot point stands at 65460.

Our preference

The downside prevails as long as 65460 is resistance.

Alternative scenario

The upside breakout of 65460, would call for 72030 and 75940.

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 66162 and 66420). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (60347).

Supports and resistances

75940 **

72030 *

65460 **

62880

60293 last

52440

48530 **

44620 *

40720 **

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