Title
Heading into 50% Fibonacci Resistance

Type
Bearish Reversal

Preference:
Price is rising towards the pivot point of 0.62032 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.61177 which is an overlap support that aligns with the 50.0% Fibonacci retracement level.

Alternative scenario:

If price breaks above the pivot point, it could hit the 1st resistance at 0.62616 which is a pullback resistance that sits above the 161.8% Fibonacci extension level.

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