Type: Bullish BounceKey Levels:Resistance:Pivot:Support:Preferred Case:Price broke out of the descending trendline resistance, signifying a potential bullish momentum. We can expect price to bounce up from the pivot level in line with graphical overlap support, 161.8% Fibonacci extension, 61.8% Fibonacci retracement and 161.8% projection towards 1st Resistance in line with previous swing high and 161.8% Fibonacci projection. Our bullish bias is further supported by the stochastic indicator where the %K line is at the support level.Alternative Scenario:Alternatively, price could push down to the 1st Support level in line with the horizontal support level.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/btcusd-h4-or-potential-bullish-bounce"
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