Type: Bullish BounceKey Levels:Resistance: 50880.12Pivot: 46949.92Support: 44666.16dvPreferred Case:Price is currently abiding to the descending trendline resistance, signifying overall bearish momentum. However, we can expect price to bounce from the pivot level in line with 61.8% Fibonacci projection towards 1st Resistance in line with 50% Fibonacci retracement and 100% Fibonacci projection. Our bullish bias is further supported by the RSI indicator where there is a bullish divergence identified.Alternative Scenario:Alternatively, price could push further down to the 1st Support in line with 78.6% Fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/btcusd-h4-or-short-term-bullish-bounce-17thdec"
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