BTCUSD approaching resistance, potential drop!
BTCUSD is approaching our first resistance at 6809 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 5890 (horizontal swing low support, 61.8% Fibonacci extension).
RSI (34) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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