Type: Bearish DropKey Levels:Resistance: 108.94Pivot: 103.92Support: 95.905Preferred Case:On the H4, with price moving in a descending trend channel and RSI showing a descending trendline, we have a bearish bias that price will continue to drop from the pivot at 103.92 at the pullback support to the 1st support at the 95.905 at the swing low in line with the 61.8% fibonacci projection.Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 108.94 at the overlap resistance in line with the 38.2% fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/bcousd-h4-or-potential-bearish-continuation"
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