BTCUSD approaching support, potential bounce!

31 ส.ค. 2018

BTCUSD is approaching our first support at 6862 (horizontal overlap support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 7498 (61.8%Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (89) is 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.