This chart considers the previous bubbles and resistances.
All the previous rallies have retraced to 0.78 in the long run and each bull run consolidated above or around the previous 0.78 retracement.
I've drawn the fib retracements for each bubble and used a hard lines to show the 0.78 resistances.
I think it will continue dropping now, target being 600-800 in a few weeks or months. I assume it will drop to 1200 in a couple of days.
All the previous rallies have retraced to 0.78 in the long run and each bull run consolidated above or around the previous 0.78 retracement.
I've drawn the fib retracements for each bubble and used a hard lines to show the 0.78 resistances.
I think it will continue dropping now, target being 600-800 in a few weeks or months. I assume it will drop to 1200 in a couple of days.
Comment:
Despair phase of the bubble pop might bring it down to 250-350