Type: Bullish BounceKey Levels:Resistance: 51870.13Pivot:45589.14Support: 43962.81Preferred Case:Price broke out of the descending trendline resistance, signifying a bullish momentum. We can expect price to bounce from the pivot level in line with 100% Fibonacci projection towards 1st Resistance in line with 100% Fibonacci projection. Our bullish bias is further supported by the RSI indicator where it is abiding to the ascending trendline support.Alternative Scenario:Alternatively, price could push further down to 1st Support in line with 127.2% Fibonacci projection and 127.2% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/btcusd-h4-or-bullish-momentum4"
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