BTCUSD testing resistance, potential drop!
Price is testing our first resistance (horizontal overlap resistance, 100% Fibonacci extension ,38.2% Fibonacci retracement ) where a strong drop to our major support (horizontal pullback support, 50% Fibonacci retracement , 61.8% Fibonacci extension ) might occur. Stochastic is also approaching resistance where we might see a drop .
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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