-The major support at 5 dollars has been broken as the price continue to trade at $4.24 -If you were holding a position at around 5 dollar range, you'd be stopped out already -Now, the trade idea for upside continue is invalid at 5 dollars buy range -Looking at the current market structure, the next potential support could be at 3.6 dollars -This zone is a confluence of previous resistance last January 2021 and the 200D MA support -If the price reaches this level and we see good bullish reversal signs -I think that is a good buy signal and expect a nice swing bounce up to $5-$6 -Again, if the Bull can regain above 6 dollars and maintain a good support -That is the time we can increase our bias for future upside continuation -For now, I will stay on the sideline and wait for proper confirmation -Because sitting in cash is also a position and discipline for proper risk management -Good luck everyone and stay safe!
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