We have various levels of support if the pattern is validated and breaks to the downside although if we have a full 161.8 fib extension then we might even reach $3300 which would be a 83.4% drop from the $19891 ATH in December and would reach our 200 week moving average. This is also our next major support after the $3500 area and we should find the larger support before rebounding. We had the worst monthly close for November since January 2015 and I think we still need to reach the lower $3k area and that 200MA weekly before this bottom is truly set in. Full respect for my stop loss on this trade!
Good luck and happy trading!
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