BTCUSD is testing its resistance at 7738 (23.6% Fibonacci retracement, horizontal swing high resistance) where price could fall to its support at 7529 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 90% where a corresponding reversal could occur. 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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Past performance is not indicative of future results.
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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.