BTCUSD approaching support, potential bounce!

31 באוג׳ 2018

BTCUSD is approaching our first support at 6862 (horizontal overlap support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 7498 (61.8%Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (89) is approaching its support where a bounce off this level might see a corresponding rise in price.
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