It is clearly not going to stop. Continuation pattern show a target well below 50% retracement level.
I draw Fib Levels from the previus time price hit the multiyear trend line. You see it bounced at 50%. During downtrend though, to rely on support levels is a very weak strategy. It is way better to observe price action once they hit one, to see how they react.
This is like a train almost 10 years long: The higher the speed, the harder is to stop it.
I draw Fib Levels from the previus time price hit the multiyear trend line. You see it bounced at 50%. During downtrend though, to rely on support levels is a very weak strategy. It is way better to observe price action once they hit one, to see how they react.
This is like a train almost 10 years long: The higher the speed, the harder is to stop it.
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