ETHUSD, H4 | Potential Bullish Continuation

ethusd,-h4-|-potential-bullish-continuation

Type: Bullish BounceKey Levels:Resistance: 2859.57Pivot: 2721.94Support: 2652.04Preferred Case:On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 2859.57 where the 61.8% Fibonacci retracement is from our pivot of 2721.94 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break structure and head for our 1st support at 2652.04 in line with the 127.2% Fibonacci extension.

Source: Tickmill

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