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BTCUSD, H4 | Short-term Bullish Bounce.

Preference:

Price is abiding to the descending trendline resistance, signifying overall bearish momentum. However, we can expect price to make a short-term bullish bounce to the descending trendline resistance from the pivot level in line with graphical overlap towards 1st Resistance in line with 78.6% Fibonacci projection.

Alternative Scenario:

Alternatively, price might push even further down to the 1st Support in line with 61.8% Fibonacci projection and 127.2% Fibonacci extension.

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