FX.co ★ BTCUSD Potential For Bullish Rise to overlap resistance

Description :

Looking at the H4 chart, my overall bias for BTCUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a pullback buy entry at 22896.54, where the overlap support and 23.6% Fibonacci line is. Stop loss will be at 21635.17, where the recent low and 38.2% Fibonacci line is. Take profit will be at 25152.46 where the overlap swing high is.

Trading Recommendation

Entry:22896.54

Reason for Entry: Overlap support + 23.6% Fibonacci line

Take Profit: 25152.46

Reason for Take Profit: Overlap swing high

Stop Loss: 21635.17

Reason for Stop Loss:

Recent low + 38.2% Fibonacci line