Trump has once again backed semiannual reporting. What could this mean for stocks?
Type: Bearish Reversal
Key Levels: Resistance: $43,469.39, pivot: $42,366 and support: $39,791.43
Preferred Case: Bitcoin is abiding by the descending trendline resistance, signifying an overall bearish momentum.
We can expect the price to drop from the pivot level in line with 38.2% Fibonacci retracement and graphical overlap resistance towards 1st Support in line with 61.8% Fibonacci projection, 78.6% Fibonacci retracement, and previous swing low.
Our bearish bias is further supported by the RSI indicator where it is abiding by the descending trendline resistance.
Alternative Scenario: Alternatively, the price could push higher and break the descending trendline resistance and touch 1st Resistance in line with 78.6% Fibonacci retracement.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stocks should you consider in your very next trade?
The best opportunities often hide in plain sight—buried among thousands of stocks you'd never have time to research individually.
That's why smart investors use our Stock Screener with 50+ predefined screens and 160+ customizable filters to surface hidden gems instantly.
For example, the Piotroski's Picks method averages 23% annual returns by focusing on financial strength, and you can get it as a standalone screen. Momentum Masters catches stocks gaining serious traction, while Blue-Chip Bargains finds undervalued giants.
With screens for dividends, growth, value, and more, you'll discover opportunities others miss. Our current favorite screen is Under $10/share, which is great for discovering stocks trading under $10 with recent price momentum showing some very impressive returns!