FX.co ★ BTCUSD Potential For Bearish Momentum | 19th September 2022

On the H4, price has broke through the second support 18540.00 where the previous swing low sits and reflected back up above the first support at 19557.00 where the 78.6% Fibonacci retracement sits. Price could possibly go back and break through the second support area.

Trading Recommendation

Entry: 19391.00

Reason for Entry: Price has came back up to the 61.8% Fibonacci retracement

Take Profit: 18271.00

Reason for Take Profit: Previous swing low area

Stop Loss: 20187.00

Reason for Stop Loss:Previous swing high