Title:
BTCUSD potential bullish push-17th Sep 2021
Type: Bullish rise
Preference:
Price broke below the ascending trendline support showing abearish momentum however, we are expecting price to have a short-term bullishbias towards the 1st Resistance in line with the 78.6% Fibonacciretracement and 78.6% Fibonacci projection. We are also expecting the price tobe retest the ascending trendline support now resistance.
Alternative scenario:
Alternatively, Price Can Reversal Back Down From The Pivot Level In Line With 50% Fibonacci Retracement Towards The 1st Support Level In Line With 38.2% Fibonacci Retracement.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.