I have been anticipating this rapid downward movement for some time now. However, the market could still potentially retest the $4.95 - $5.20 area before heading lower.
The $4.47 Trigger Zone: If the asset accepts trading below $4.47 (closing multiple candles within this purple zone), the bearish bias will be heavily reinforced.
Downside Target: Breaking and holding below that level will likely push the price down to seek the $3.45 target.
The $4.47 Trigger Zone: If the asset accepts trading below $4.47 (closing multiple candles within this purple zone), the bearish bias will be heavily reinforced.
Downside Target: Breaking and holding below that level will likely push the price down to seek the $3.45 target.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.