BTCUSD is approaching our first support at 3494.0 (horizontal swing low support, 76.4% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 3823.4 (horizontal overlap resistance, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching support where 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.