BTCUSD is facing bullish pressure from ascending trend line support, Prices might pullback to ascending trendline support in line with 38.2% Fibonacci retracement and 50% Fibonacci extension. Prices might push up towards horizontal swing high resistance in line with 161.8% Fibonacci retracement and 100% Fibonacci extension. EMA is also below prices, showing a bullish pressure for prices. If prices continue to push down, prices might take support on horizontal swing low support in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension.
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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.