BTCUSD is approaching our first resistance at 7498 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, ascending channel upper resistance) and a strong drop might occur below this level pushing price down to our major support at 6833 (horizontal overlap support, 38.2% Fibonacci retracement, 100% Fibonacci extension, ascending channel support). Stochastic (89,5,3) is also approaching our resistance and seeing a bearish divergence where a reaction below this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.