Looking at the H4 chart, my overall bias for BTCUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. Expecting price to possibly head back down towards the 1st support at 15632.00, where the previous swing low is. In an alternative scenario, price could possibly break the 1st resistance at 17297.00, where the 23.6% Fibonacci line is before heading towards the 2nd resistance line at 18173.33, where the previous swing low is and 50% Fibonacci line are.
Trading Recommendation
Entry: 17297.00
Reason for Entry: 1st resistance line
Take Profit:18595.60
Reason for Take Profit: 2nd resistance line
Stop Loss: 16000
Reason for Stop Loss:
Previous swing low
