It seems that we are going lower as two clear BEAR flags have formed when looking at 1hour chart.
Entry or buy zone with yellow. If it falls furter to 2.8, them Stop Loss activated. If we brake 2.8 usd we go down to 2.2 for sure.
Good time to buy, but if the 2.90 is breached then it will fall hard to 2.2 usd level.
So, but stop losses in place accordingly.
Moment of truth. Stop Loss level almost reached. Good place to buy, but still put a stop loss very close to buy. If 2.8usd falls we fall!
It seems we are back in the downtrending channel, after a small fakeout pump.
Projection : 2.2 usd
Trade closed: target reached:
We reached my 2.2 usd prediction and I think we have more to go. I would say, that strong support is at 0.618 fibonachi level around price of 2.0400 usd. But if it goes past that, then we may see very heavy support at 1.70usd. But that means we have around -23% drop ahead still. I sure hope not :) and we stay at 2.0 line.