MA100 has acted as strong resistance. This coincides with the heavy resistance at the red which has acted as strong support since September 2017 and as resistance since August 2018.
Using , you can see the price has closed below 0.50 and we can now expect a drop now to 0.618 and MA50 at around $6600. This will be an important level because if $6600 holds as support, we can expect enough momentum for the bulls to take us back to the red somewhere between $6920 and $7113, before either breaking through the red and finding support if the bulls do find enough or, more than likely, potentially falling back to new lows from there.
If $6600 doesn't hold as support however, we can expect a potential drop to $5743 with a possible extension to a new yearly low $5555.
Target 1: $5743 (fib 1.272)
Target 2: $5555 (fib 1.414)