BTCUSD approaching resistance, potential drop!
BTCUSD is approaching our first resistance at 7498 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, ascending channel upper resistance) and a strong drop might occur below this level pushing price down to our major support at 6833 (horizontal overlap support, 38.2% Fibonacci retracement, 100% Fibonacci extension, ascending channel support).
Stochastic (89,5,3) is also approaching our resistance and seeing a bearish divergence where a reaction below this level might see a corresponding drop in price.
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 our resistance and seeing a bearish divergence where a reaction below this level might see a corresponding drop in price.
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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