BitcoinShort
BTCUSD Futures ( BTCUSD ), H4 Potential for Bearish Drop
Title: BTCUSD Futures ( BTCUSD ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 25270.00
Pivot: 23815.00
Support: 21376.00
Preferred case: Looking at the H4 chart, my overall bias for BTCUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a possible shift to bearish market structure. If this bearish momentum continues, expect price to drop from the pivot at 23815.00 where the 38.2% Fibonacci line and overlap resistance is and continue heading down towards the support at 21376.00 where the previous swing low was. It’s worth noting that there is an intermediate support at 21939.00 which price might struggle to break through.
Alternative scenario: Price may head back up towards the resistance line at 25270.00 where the recent high is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 25270.00
Pivot: 23815.00
Support: 21376.00
Preferred case: Looking at the H4 chart, my overall bias for BTCUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a possible shift to bearish market structure. If this bearish momentum continues, expect price to drop from the pivot at 23815.00 where the 38.2% Fibonacci line and overlap resistance is and continue heading down towards the support at 21376.00 where the previous swing low was. It’s worth noting that there is an intermediate support at 21939.00 which price might struggle to break through.
Alternative scenario: Price may head back up towards the resistance line at 25270.00 where the recent high is.
Fundamentals: There are no major news.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.