I think we will see one more leg down to 90 region before the next leg up to 110 region.
I have started building positions already in coffee. If 94 holds then good chance this could be the bottom but my gut is saying there is still one more push down to 90/89.
Lets keep an eye out on this weekly close.
Correction seems to be over around 6800 region.
Short to 5200 touching 100ma on daily chart. From history at every dump it seems to touch this line.
Stop loss $6900.
Target 1: $6400
Target 2: $6100
Target 3: $5600 (if 6k breaks with ease)
Target 4: $5200 (100ma)
Lets see what btc does over the next few days.
Anything can happen between these two red lines. EU could be testing 1.65 level again.
This is more for my own analysis.
I wouldn't enter until we see a more clear signal and breaks the trendline.
For now I will be sitting back and watching this pair closely.
As always, I'm eager to learn so would love to hear your thoughts if im completely wrong.