BTCUSD Futures ( BTCUSD ), H4 Potential for Bearish Drop
Title: BTCUSD Futures ( BTCUSD ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 23563.5
Pivot: 22761.0
Support: 21416.5
Preferred case: Looking at the H4 chart, my overall bias for BTCUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to drop from the pivot at 22761.0 and continue heading down towards the overlap support at 21416.5.
Alternative scenario: Price may head back up towards the resistance line at 23563.5 where the recent swing high is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 23563.5
Pivot: 22761.0
Support: 21416.5
Preferred case: Looking at the H4 chart, my overall bias for BTCUSD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to drop from the pivot at 22761.0 and continue heading down towards the overlap support at 21416.5.
Alternative scenario: Price may head back up towards the resistance line at 23563.5 where the recent swing high is.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.