BTCUSD approaching support, potential bounce!
BTCUSD is approaching our first support at 6446.8 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement, short term ascending support line) where a strong bounce might occur above this level pushing price up to our major resistance at 7419.1 (horizontal swing high resistance, 61.8% Fibonacci extension).
Stochastic (89,5,3) 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 (89,5,3) 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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