BTCUSD approaching resistance, potential drop!
BTCUSD is approaching our first resistance at 6582 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 6459 (horizontal overlap support, 50% Fibonacci extension).
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. Stochastic (34,5,3) is also approaching resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. Stochastic (34,5,3) is also approaching resistance and a reaction off this level might see a corresponding drop in price.
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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