IREN has found support at the Fibonacci 1.0 level as well as the 55 EMA. The next target to watch for is the 1.382 Fibonacci ratio, or potentially even the 1.618 Fibonacci extension.
So far, this could still be considered an ABC correction. However, if we surpass these targets in a five-wave downward movement, we might see even lower prices.
I do not currently hold a position in this stock, but I hope this information helps someone.
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