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BTCUSD,H4 | Bearish Continuation

30170 btcusdh4 bearish continuation

Type: Bearish ReversalKey Levels:Resistance: 43811.Pivot: 42275.85Support: 39778.7Preferred Case:Price is abiding to the descending trendline resistance, signifying overall bearish momentum. We can expect price to continue to drop from pivot level in line with 23.6% Fibonacci retracement and graphical overlap support (if price close below pivot) towards 1st Support in line with 61.8% Fibonacci projection and 78.6% Fibonacci retracement. Our bearish bias is further supported by the RSI indicator where it is abiding to the descending trendline resistance.Alternative Scenario:Alternatively, price could push higher up to the 1st Resistance in line with 78.6% Fibonancci retracement.

Source: Tickmill

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