Type: Bullish RiseKey Levels:Resistance: 24310Pivot: 22535Support: 20730Preferred Case:On the H4, with prices moving within an ascending channel and bouncing off the ichimoku cloud , we have a bullish bias that price will rise from the pivot at 22535 where the pullback support, 50% fibonacci retracement , 61.8% fibonacci projection and 61.8% fibonacci projection are to the 1st resistance at 24310 where the swing high resistance and 161.8% fibonacci extension are.Alternative Scenario:Alternatively, price could break pivot structure and drop to the 1st support at 20730 where the swing low support and 100% fibonacci projection are.Fundamentals:Due to the looming recession amid tightening monetary policy globally, we have a bearish view on the Bitcoin . We’ll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
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