It is in a downtrend but on the bigger picture, it is also forming a .
Also looks it's oversold and starts to decrease. This may suggest a trend reversal.
The hourly looks that there is room to go lower, maybe it will touch 0.88 retracement from the previous cycle or go a little bit lower, but on daily it looks oversold.
Also it is also in an interesting price area. The same price area acted as both in the past.
Will take a position and will sell at key price levels that also match fib zones.
Targets sent in Telegram
Also on the higher timeframe, Stoch RSI, RSI and MACD seems become bullish
We've also met some resistance under daily cloud
Will try to average down in this trade a little bit.