Title
Rising into 50% Fibonacci Overlap Resistance

Type
Bearish Reversal

Preference:
Price is rising towards the pivot point of 0.5968 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 0.5904 which is a pullback support that sits above the 61.8% Fibonacci retracement level.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 0.6017 which is a pullback resistance level.

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