Bitcoin / Euro may fall to 55990 - 56500

Our pivot point stands at 58240.

Our preference

Target 55990.

Alternative scenario

The upside breakout of 58240, would call for 59100 and 59610.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (57604) but above its 50 period moving average (57431).

Supports and resistances

59610 **

59100 *

58240 **

57900

57522 last

56500

55990 **

55480 *

54970 **

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