easyMarkets
Short

BTCUSD approaching resistance, potential big drop coming!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Price is approaching our first resistance (horizontal overlap resistance, 38.2% Fibonacci retracement , 100% Fibonacci extension ) where we might see a corresponding drop to our first support level (horizontal pullback support, 50% Fibonacci retracement ).
Stochastic is also approaching resistance where we 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.
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