Bitcoin / Dollar may fall 1623 - 2432 pips

Our preference

the downside prevails as long as 38826 is resistance.

Alternative scenario

the upside breakout of 38826, would call for 40186 and 40996.

Comment

the RSI is trading below 30. This could mean that either the pair 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 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 38563 and 38738).