Pair has hit this support line 5 different times. It may still have bearish momentum behind it so price could go further to the -61.8 or the -127.00 level. If price can not continue to progress bearish it will reverse and start a box range while it consolidates to rest. Then it will either continue bearish or bullish out of the box range.
Note
Pair reversed at the -27% fib aand went up to TP ar 78.6% fib and continued up past the 100% fib and is on its way to the 127% fib. When using fibs for TP, price will usually go to the 78.6 % and the 127% fib levels
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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.