BTCUSD approaching resistance, potential drop!
BTCUSD is approaching our first resistance at 3997 (horizontal swing high resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement, descending channel resistance) where a strong drop might occur pushing price down to our major support at 3369 (100% Fibonacci extension). A break below our intermediate support level might provide the bearish acceleration to our major support target.
Stochastic (34,5,3) is also approaching resistance where we 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.
Stochastic (34,5,3) is also approaching resistance where we 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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