BTCUSD Approaching Resistance, Potential Reversal
BTCUSD is approaching our first resistance at 4721 (100% Fibonacci extension, 23.6%, 38.2% Fibonacci retracement, horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 4043 (100% Fibonacci extension,
RSI (34) is approaching our resistance and we might see a corresponding drop in price. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is approaching our resistance and we might see a corresponding drop in price. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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