Short

Brace for impact!

Guys, brace for an impact. Wave 5 in progress now. We have broken the trendline support for the second time now (dotted green line). Price action (so far) confirming further downside. Expected bounce from 20k up to the resistance trendline (dotted red line). For the Fibonacci retracement, we have hit the 38.2% level. Unfortunately, we were not able to crawl up to the 50% level of the 3rd wave, which confirms the strength of selling pressure. It is as bearish as it can be. In longer-term we may even touch the bottom at 15k. Have a good weekend.

azbest5

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.