BTCUSD reacting below recent swing high resistance. Stochastic is also reacting below resistance where price reacted in the past. A short term drop below 1st resistance at 59502 towards 1st support at 57534 could be possible.
Trading Recommendation
Entry: 59502
Reason for Entry:
Graphical swing high resistance
Take Profit: 57534
Reason for Take Profit:
50% Fibonacci retracement, ascending trendline support.
Stop Loss: 60907
Reason for Stop Loss:
-27.2% Fibonacci extension
The material has been provided by InstaForex Company - www.instaforex.com