While a bounce was expected at the 0.618 Fib. retracement for USDT.D, it didn't take place.
After the close below this level 14-Jan., confirmation has been received with two additional candles/sessions staying below.
The RSI has gone super weak... 17, extreme oversold.
It is tricky here... As you can see from late October/November 2022, going below a support level can quickly result in a bounce.
Something similar can happen here where we see prices going up just to come crashing back down.
What's important to know for us is that any recovery should be temporary and then a lower low.
It can go straight down as well...
Namaste.
After the close below this level 14-Jan., confirmation has been received with two additional candles/sessions staying below.
The RSI has gone super weak... 17, extreme oversold.
It is tricky here... As you can see from late October/November 2022, going below a support level can quickly result in a bounce.
Something similar can happen here where we see prices going up just to come crashing back down.
What's important to know for us is that any recovery should be temporary and then a lower low.
It can go straight down as well...
Namaste.
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