easyMarkets

BTCUSD approaching resistance, potential drop!

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD is approaching our first resistance at 6347 (horizontal overlap resistance, 23.6% Fibonacci retracement ) and a strong drop might occur below this level pushing price down to our major support at 5870 (horizontal swing low support, 61.8% Fibonacci extension ).
RSI (55) is seeing a bearish exit and we might see a corresponding drop in price.
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