BTCUSD reversed off resistance, potential for further drop!
Price reversed off our first resistance (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur to our major support (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement). Stochastic is also approaching resistance and we are seeing a bearish divergence.
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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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