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BTCUSD approaching resistance, potential bounce!
BTCUSD is approaching our first support at 6862 (horizontal overlap support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension, bullish channel) and a strong bounce might occur above this level pushing price up to our major resistance at 7522 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
RSI (89) is also seeing a bullish channel and approaching its support where a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also seeing a bullish channel and approaching its support where a bounce off this level might see a corresponding rise in price.
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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