On this fibonacci analysis it shows the bears might be heading towards the 236 fibonacci retracement down at 0.02675 area. If we find support there would be a great place to build longs.
Today there was a sell signal and I dont believe we recover before we hit some bigger support on much lower number. I wont be buying until my target gets hit or I see a convincing buy signal.
Next possible support above 2675 is 3200, which might give us a temporary bottom. I'd like to be ready with a short from higher so I can withstand that.
Today there was a sell signal and I dont believe we recover before we hit some bigger support on much lower number. I wont be buying until my target gets hit or I see a convincing buy signal.
Next possible support above 2675 is 3200, which might give us a temporary bottom. I'd like to be ready with a short from higher so I can withstand that.
Comment:
If price doesnt reverse at 0.02675 area, i will be looking for another big short to as low as 0.005, which is target 2 of bearish fibonacci.