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Thursday, May 11, 2023

May 11, 2023 at 02:18AM BTCUSD H4 | Reversal from overlap support?

BTCUSD H4 | Reversal from overlap support?

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

BTCUSD could drop to a key support level and reverse from here. We could see price bounce up to our take profit target.

Entry: 27221
Why we like it:
There is an overlap support

Stop Loss: 26707
Why we like it:
There is an overlap support

Take Profit: 28356
Why we like it:
There is an overlap resistance that aligns with the 50.0% Fibonacci retracement

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