The chart is pretty much self explanatory. As you see, I tried to demonstrate the logarithmic move using Fibonacci retracement.
It seems obvious (to me) that we are at the third "High" point, whether it is an inside job or an organic move by market, the price reached Fib 2.0 and it needs a massive correction.
The next bottom could be between $4.0 and $7.0 (Fib 1.4 to 1.62).
This is not a financial advice. Trade wisely.
It seems obvious (to me) that we are at the third "High" point, whether it is an inside job or an organic move by market, the price reached Fib 2.0 and it needs a massive correction.
The next bottom could be between $4.0 and $7.0 (Fib 1.4 to 1.62).
This is not a financial advice. Trade wisely.
Kommentera:
As long as this bear moves down, the next target is $7.
