BTCUSD,H4 | Bearish Continuation

btcusd,h4-|-bearish-continuation

Type: Bearish ReversalKey Levels:Resistance: 45514.76Pivot: 43995.2Support: 40641.22Preferred Case:Price is abiding to the descending trendline resistance, signifying an overall bearish momentum. We can expect price to drop from pivot level in line with 38.2% Fibonacci retracement towards the 1st Support in line with 78.6% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is further supported by Ichimoku acting as a resistance.Alternative Scenario:Alternatively, price could push higher to the 1st Resistance in line with 50% Fibonacci retracement.

Source: Tickmill

Related Posts

btcusd,-h4-|-short-bullish-bounce

BTCUSD, H4 | Short Bullish Bounce

Type: Bullish BounceKey Levels:Resistance: 40596.7Pivot: 35251.6Support: 33937.23Preferred Case:Price is abiding to the descending channel, signifying an overall bearish momentum. However, price is reacting at the

Read More »
dxy,-h4-|-bullish-continuation

DXY, H4 | Bullish Continuation

Type: Bullish BounceKey Levels:Resistance: 95.983Pivot: 95.532Support: 95.413Preferred Case:Prices are on bullish momentum and consolidating in a triangle pattern. We see the potential for further bullish

Read More »
usdjpy,-h4-|-bullish-bounce

USDJPY, H4 | Bullish Bounce

Type: Bullish BounceKey Levels:Resistance: 114.233Pivot: 113.61Support: 113.473Preferred Case:Prices are consolidating in a triangular pattern. We see the potential for a bounce from our Pivot at

Read More »