BTCUSD is approaching horizontal overlap support level in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. Beyond support level, prices might continue to push down towards horizontal swing low support in line with 127.2% Fibonacci extension and 161.8% Fibonacci retracement. EMA is also above prices, showing a bearish pressure for prices. If prices bounces from the support level, prices might push up towards horizontal overlap resistance in line with 50% Fibonacci retracement and 50% Fibonacci extension
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/btcusd-approaching-support-potential-for-further-drop"
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