Looks like we're going to break through support around the $6,800 level.
Next downside support looks to be strongest just above the $5,800 level - this is also where the lower of the green downtrends meets support. Expect a bounce once we reach that point, but not much before then.
Long term target of around $3,500 for the low, however as low as $2,500 is possible. Long term always hard to predict, but current price action still makes this the most likely scenario.
Next downside support looks to be strongest just above the $5,800 level - this is also where the lower of the green downtrends meets support. Expect a bounce once we reach that point, but not much before then.
Long term target of around $3,500 for the low, however as low as $2,500 is possible. Long term always hard to predict, but current price action still makes this the most likely scenario.