BTCUSD approaching support, potential bounce!
BTCUSD is approaching our first support at 6456.0 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 7242.6 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (34,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
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 support and we might see a corresponding rise in price should it bounce off this level.
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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