BTCUSD - Signs of reversal?
Bull scenario
The 4h chart show some signs of trend reversal.
We see an impulse wave upwards which goes through our previous resistance trendline.
Soon it should be ready for some retracement to form the second wave.
The buy zone is around the .5 - .618 Fibonacci retracement levels.
This zone confluences with our previous resistance trendline which then act as support.
Bear scenario
It could be a false breakout( see the previous breakout ) and we could drop to 7k level.
Always place a stop-loss :)
The 4h chart show some signs of trend reversal.
We see an impulse wave upwards which goes through our previous resistance trendline.
Soon it should be ready for some retracement to form the second wave.
The buy zone is around the .5 - .618 Fibonacci retracement levels.
This zone confluences with our previous resistance trendline which then act as support.
Bear scenario
It could be a false breakout( see the previous breakout ) and we could drop to 7k level.
Always place a stop-loss :)
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