The Price has reached Weekly1 support and a lot of stop-losses have been liquiditated(orange lines). There is one more major insufficient area FVG3 (Fair Value Gap) remaining and some stop-losses to take out around 0.00006568 price. This is very high probability buy-side liquidity area providing very good entry point inside FVG3. The price might also bounce from the current levels without visiting these lower levels but I personally would feel a lot safer with a liquidity sweep bounce from a FVG. Current ~44% correction from the previous highs is decent but further correction into the FVG3 levels would bring it to ~50% beeing not that uncommon scenario with alts. Either way, the direction is up. Way UP!
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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.