Bitcoin / Euro may fall to 45780 - 49220

Our pivot point stands at 60750.

Our preference

The downside prevails as long as 60750 is resistance.

Alternative scenario

The upside breakout of 60750, would call for 66550 and 70010.

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 61578 and 61498). Finally, the Bitcoin / Euro is trading below its lower Bollinger band (standing at 56508).

Supports and resistances

70010 **

66550 *

60750 **

58470

56181 last

49220

45780 **

42330 *

38880 **

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