BTCUSD approaching support, potential bounce!
BTCUSD is approaching our first support at 5791 (horizontal swing low support, 61.8% fibonacci extension) and a strong bounce might occur above this level pushing price up to our majo resistance at 6804 (horizontal overlap resistance, 61.8% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (34,5,3) is also approaching resistance where 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 resistance where 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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