short term EMA: 10 days EMA cross downwards 20 days EMA, 10 days EMA becomes a support trend line for the bearish trend.
Long term EMA: price break down 200 days EMA, bearish
MACD: price and momentum converges (same bearish direction)
Elliot Wave: Finish the formation of impulse wave (1,2,3,4,5), after that, should be correction wave (A,B,C)
Volume: high volume,...
Analysis Tool Used: Fib retracement, Fib convolution zone, Fib extension, 20-day MA, 50-day MA
Analysis Process:
Through using multiple fib retracements, I found the supporting lines (orange dash lines) inside fib convolution zones. It seems to me that the price has broken the 10919.5 supporting fib line and the red color supporting trend line, so the price...
