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BTCUSD testing major resistance, prepare for a potential drop!

Oleh Tickmill
Broker
BTCUSD is back to testing our major resistance at 8057 (shorter term descending resistance, horizontal pullback resistance, Fibonacci retracement) and a reaction could occur from this level to drive prices down to 5763 support (Fibonacci extension, horizontal swing low support).

RSI (34) sees a long term descending resistance line hold price down really well and add bearish momentum to our setup.

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Bitcoin (Cryptocurrency)bitcoinideabitcoinlongbitcoinshortBTCUSDbtcusdlongbtcusdshortChart PatternscryptoCryptocurrencyHarmonic PatternsTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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