At present, we have a lot of longs closed in the footsteps, as well as the liquidation of marginals. The percentage of fear is currently at a high level, and few people want to buy.
In the current situation, consolidation occurs, an upward rebound is possible (impulse correction), and then further with the greatest likelihood a repeated wave of decline will occur around ~7500-7200$.
Next important level is support zone 2018 ~5800-6500$.
Worst case scenario if the price back to major trendline ~4800-5500$.
Bearish scenario will be invalidated if break up and stay above descending trenline.
Every deep create good buying oportunity :)
In the current situation, consolidation occurs, an upward rebound is possible (impulse correction), and then further with the greatest likelihood a repeated wave of decline will occur around ~7500-7200$.
Next important level is support zone 2018 ~5800-6500$.
Worst case scenario if the price back to major trendline ~4800-5500$.
Bearish scenario will be invalidated if break up and stay above descending trenline.
Every deep create good buying oportunity :)
Trade closed: target reached:
After 4 tests of support for 7800, the expected breakdown of this level occurred, the price reached the indicated support of 7400-7500 and the drop stopped.
Trade active
Comment:
Worst case scenario! just happened
