Type : Bearish Drop
Resistance : 22420
Pivot: 20695
Intermediate Support: 19390
Support : 18830
Preferred Case: On the H4, with price moving below an ichimoku indicator, we have a bearish bias that price will drop from pivot at 20695 where the pullback resistance and 23.6% fibonacci retracement are to the 1st support at 18830 where the swing low support and -61.8% fibonacci expansion are. Take note of intermediate support at 19390 where the 127.2% fibonacci extension and swing low support are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 22420 where the overlap resistance, 100% fibonacci projection and 50% fibonacci retracement are.
Fundamentals: After Fed Chair Powell reiterated that the Fed will tighten policy to bring down inflation , we have a bearish view on Bitcoin .
Resistance : 22420
Pivot: 20695
Intermediate Support: 19390
Support : 18830
Preferred Case: On the H4, with price moving below an ichimoku indicator, we have a bearish bias that price will drop from pivot at 20695 where the pullback resistance and 23.6% fibonacci retracement are to the 1st support at 18830 where the swing low support and -61.8% fibonacci expansion are. Take note of intermediate support at 19390 where the 127.2% fibonacci extension and swing low support are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 22420 where the overlap resistance, 100% fibonacci projection and 50% fibonacci retracement are.
Fundamentals: After Fed Chair Powell reiterated that the Fed will tighten policy to bring down inflation , we have a bearish view on Bitcoin .
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.