BTCUSD Potential bearish drop | 28th Feb 2022
Bitcoin/U.S. Dollar FX:BTCUSD
On the H4, with price currently moving below the ichimoku cloud , we have a bias that price will drop to take profit at 34612 in line with the 100% Fibonacci projection and horizontal swing low support from our entry at 40060 in line with the 50% Fibonacci retracement and horizontal swing high resistance. Alternatively, price may break our entry structure and head for our stop loss at 41408 in line with the 61.8% Fibonacci retracement .
