BTCUSD approaching support, potential bounce!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD is approaching our first support at 3690.7 (horizontal overlap support, 61.8% fibonacci extension , 61.8% fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 4405.5 (horizontal swing high resistance, 61.8% fibonacci extension , 23.6% fibonacci retracement ).
Stochastic (21,5,3) is also approaching support and we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.


We took the short signal with our indicators and we're up 3.40% on this short but looking for another bounce as well. Great TA my friend!
BTCUSD H1 C UP. Checkout the idea detail's and update's for the complete picture!
Potential smackdown?
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