Type : Bullish Rise
Resistance : 24315
Pivot: 22430
Support : 20705
Preferred Case: On the H4, with price moving within a bullish channel and expected to bounce off the stochastic support, we have a bullish bias that price will rise from our pivot at 22430 where the pullback support, 61.8% fibonacci retracement and 78.6% fibonacci projection are to the 1st resistance at 24315 where the swing high resistance and 61.8% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 20705 where the swing low support, -61.8% fibonacci expansion and 100% fibonacci projection are.
Fundamentals: As investors are looking to reduce risk ahead of the CPI report, we have a bearish view on Bitcoin . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
Resistance : 24315
Pivot: 22430
Support : 20705
Preferred Case: On the H4, with price moving within a bullish channel and expected to bounce off the stochastic support, we have a bullish bias that price will rise from our pivot at 22430 where the pullback support, 61.8% fibonacci retracement and 78.6% fibonacci projection are to the 1st resistance at 24315 where the swing high resistance and 61.8% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 20705 where the swing low support, -61.8% fibonacci expansion and 100% fibonacci projection are.
Fundamentals: As investors are looking to reduce risk ahead of the CPI report, we have a bearish view on Bitcoin . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.