MICRO BITCOIN FUTURES (MBT1!), H4 potential for bullish rise
Type : Bullish Rise
Resistance : 25375
Pivot: 22500
Support : 18880
Preferred Case: On the H4, with prices moving above the ichimoku cloud, we have a bullish bias that price will rise to the pivot at 22500 in line with the swing high resistance and 100% fibonacci projection. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 25375 where the pullback resistance, 50% fibonacci retracement and 161.8% fibonacci extension are.
Alternative scenario: Alternatively, price may drop to the 1st support level at 18880 in line with the swing low support.
Fundamentals: No Major News
Resistance : 25375
Pivot: 22500
Support : 18880
Preferred Case: On the H4, with prices moving above the ichimoku cloud, we have a bullish bias that price will rise to the pivot at 22500 in line with the swing high resistance and 100% fibonacci projection. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 25375 where the pullback resistance, 50% fibonacci retracement and 161.8% fibonacci extension are.
Alternative scenario: Alternatively, price may drop to the 1st support level at 18880 in line with the swing low support.
Fundamentals: No Major News