BTCUSD approaching support, potential bounce!
BTCUSD is approaching our first support at 3059 (61.8% Fibonacci extension , horizontal overlap support) where a strong bounce might occur above this level pushing price to our major resistance at 5001 (100% fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap support). Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price.
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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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