Type : Bearish Drop
Resistance : 22420
Pivot: 20785
Support : 18610
Preferred Case: On the H4, with price expected to reverse off the stochastic resistance, we have a bearish bias that price will drop from the pivot at 20785 where the overlap resistance and 38.2% fibonacci retracement are to the 1st support at 18610 where the swing low support and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 22420 where the pullback resistance and 61.8% fibonacci retracement are.
Fundamentals: Due to the weakening US Dollar , we have a bullish view on Bitcoin . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
Resistance : 22420
Pivot: 20785
Support : 18610
Preferred Case: On the H4, with price expected to reverse off the stochastic resistance, we have a bearish bias that price will drop from the pivot at 20785 where the overlap resistance and 38.2% fibonacci retracement are to the 1st support at 18610 where the swing low support and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 22420 where the pullback resistance and 61.8% fibonacci retracement are.
Fundamentals: Due to the weakening US Dollar , we have a bullish view on Bitcoin . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.