With this last downleg, we have hit the 0.5 fibonaci level, in one break out. and it its not over.
If this is the beginning of a longer term downtrend, after we break support, the next support seems to be around 10/7/5 dollars, where I think volitle accumulation will happen, before consolidating around 10$ and moving again.
Look for one or two weak impulses to the upside to take short positions, stop loss at 37, with profit targets at 23-20, 12, 8.
If this is the beginning of a longer term downtrend, after we break support, the next support seems to be around 10/7/5 dollars, where I think volitle accumulation will happen, before consolidating around 10$ and moving again.
Look for one or two weak impulses to the upside to take short positions, stop loss at 37, with profit targets at 23-20, 12, 8.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.