BTCUSD Reversed off Resistance, Potential For Further Drop
BTCUSD has reversed off our first resistance at 5336 ( 61.8% Fibonacci extension, horizontal pullback resistance) where a strong drop might occur below this level pushing price down to our major support at 4225 (61.8% Fibonacci extension, horizontal swing low support). Stochastic (55, 5, 3) has also reversed off our resistance and we might see a corresponding drop in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
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