is making slighty lower lows, despite the price rocketing. is confirming room to decline (A), bounce (B) and further decline (C).
We have a decent trendchannel, with 2 fake breakouts, meaning the 2-try rule is in place ( failure), which should result in further decline.
Our trendchannel finished it 5th wave at 0.79. Upon completion of this wave, the pattern shows exhaustion and a correction wave should be in place.
We have a big shorting potential in (B), with low risk, but others entries might occur.
Our target (C) has a TP1 at around 0.75, with TP2 at 50% or 61,8% fib.
In case of failure, look for the yellow line as target