As anticipated we got some bounce love from the golden fib retracement level at 61.80%. However it has not bounced us high enough to reclaim the 1 day 50ma(in orange) as support just yet...Reclaiming that support is pivotal..If we can't flip it back to solidified support within the next 3-5 days then the bull market will likely be over...hopefully we will see a huge bounce here. We still have a gap on the CME futures chart at around 11.8k or soo so I'm still holding out a slight bit of hope that we can see a big bounce here.
if you anticipate it, perhaps make a chart upfront next time so you can proof it
DrDovetail
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@jostitrade, rule of thumb on the golden fibonacci retrace level is it is always strong support when price action is above and strong resistance when price action is below hence why a bounce was anticipated without a chart...however the support on this one did in fact eventually break.