💶💷As I wrote in my last post about the coming dips, as usual I was not wrong, this time it was time for an update. Link to the post below:
💶💷We will start with the fact that we broke through an important support zone and reached the 0.618 level from where I expect a retest of last resistance, the current support.
💶💷The new strong support zone I determined based on the measurement of the external fibo: 1.272 and levels where price has found resistance in the past.
💶💷 I expect a continuation of the downtrend which can only gain strength in the coming months.
💶💷💷The scenario I am playing out is a continuation of the southward direction, not excluding a test of the current resistance zone.
💶💷For fundamental data justifying the declines, I refer again to the previous post.
💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
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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.