Binance Coin / Dollar may fall to 559.7 - 565.4

584.9 is our pivot point.

Our preference

The downside prevails as long as 584.9 is resistance.

Alternative scenario

Above 584.9, look for 594.6 and 600.3.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 585.8 and 586.6).

Supports and resistances

600.3 **

594.6 *

584.9 **

581.1

576.9 last

565.4

559.7 **

553.9 *

548.2 **

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