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Short

BTCUSD approaching resistance, potential drop!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD is approaching our first resistance at 4288.5 (horizontal swing high resistance, 61.8% Fibonacci extension ) where a strong drop might occur to our major support at 3970.9 (horizontal overlap support, 38.2% Fibonacci retracement , 61.8% Fibonacci extension ).
Stochastic (89,5,3) 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.


Morning! Thanks for your updates and honesty.

I've provided a thorough video analysis of my take on BTC, I discuss higher time frames, plus projects of gaps needing to be filled in between 4600 to 5600:
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