BTCUSDT Potential for bullish momentum | 17th May 2022
On the H4, with the MACD showing a bullish momentum, we have a bullish bias that price will rise to our take profit at 31334.20 in line with the horizontal swing high resistance and 78.6% Fibonacci projection from our buy entry at 29554.29 in line with the horizontal swing low support, 61.8% Fibonacci retracement and 78.6% Fibonacci projection. Alternatively, price may break entry structure and head for stop loss at 28759.95 where the horizontal swing low support is.