BitcoinShort
BTCUSD is testing its resistance, watch for potential drop!
BTCUSD is testing is testing its major resistance at 11703.6 (Horizontal swing high resistance, 38.2%, 50% Fibonacci retracement ) and a strong reaction could occur at this level, pushing price down to our next major support at 9246.80 (horizontal overlap support, 100% Fibonacci extension , 50% Fibonacci retracement ).
Stochastic (21,5,3) is reacting off its major resistance level at 92 and RSI (55) is testing its ascending support line. This is a good precursor of a potential drop should RSI make its bearish exit.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is reacting off its major resistance level at 92 and RSI (55) is testing its ascending support line. This is a good precursor of a potential drop should RSI make its bearish exit.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.