There is a Tug of war between Bulls and Bears at 0.618 Fib and 4 time respected support level. If this support is broken Bears will be in charge and the price can depreciate further otherwise Bulls can push the price upward.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.