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ETHUSD H4 | Potential For A Drop

38085 ethusd h4 potential for a drop

Type: Bullish BounceKey Levels:Resistance: 2968Pivot: 2890Support: 2717Preferred Case:On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that price will drop from our pivot at 2890 where the pullback resistance is to our 1st support at 2717 in line with the daily horizontal overlap support and 161.8% Fibonacci extension.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance where the horizontal pullback support at 2968.Alternatively, price may break pivot structure and head for 1st resistance where the horizontal pullback support at 2968.

Source: Tickmill

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