BTCUSD, H4 | Bullish continuation
Type:
Bullish Bounce
Key Levels:
Resistance: 66485.64
Pivot: 63719.01
Support: 61662.63
Preferred Case:
We can expect price to bounce at pivot level in line with 100% Fibonacci projection towards 1st Resistance in line with 61.8% Fibonacci retracement.
Alternative Scenario:
Alternatively, price can push further down to 1st Support in with 78.6% Fibonacci projection and 78.6% Fibonacci retracement.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.