Title
BCOUSD H4 | Bullish bounce off 50% Fibo?

Type
Bullish Bounce

Preference:
Price has bounced off the pivot point of 85.859 which is an overlap support that aligns with the 50.0% Fibonacci retracement level and could potentially climb higher; we could see momentum carry price up to its 1st resistance at 88.179 which is a swing-high resistance.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 83.902 which is a pullback support that aligns close to the 23.6% Fibonacci retracement level.

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