Type : Bearish Drop
Resistance : 22420
Pivot: 20785
Support : 18610
Preferred Case: On the H4, with price expected to reverse off the stochastic resistance, we have a bearish bias that price will drop from the pivot at 20785 where the overlap resistance and 38.2% fibonacci retracement are to the 1st support at 18610 where the swing low support and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 22420 where the pullback resistance and 61.8% fibonacci retracement are.
Fundamentals: Due to the weakening US Dollar , we have a bullish view on Bitcoin . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
Resistance : 22420
Pivot: 20785
Support : 18610
Preferred Case: On the H4, with price expected to reverse off the stochastic resistance, we have a bearish bias that price will drop from the pivot at 20785 where the overlap resistance and 38.2% fibonacci retracement are to the 1st support at 18610 where the swing low support and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 22420 where the pullback resistance and 61.8% fibonacci retracement are.
Fundamentals: Due to the weakening US Dollar , we have a bullish view on Bitcoin . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.