Here are some thoughts on possible routes over 60k that can be valid options. Right now we are seing some kind of bottom that has formed. The question is how long it will last. Seeing the most bearish downside target as 31k as a capitulation before recovery. The bullish scenario would be to break out of this downtrend channel, but note that previously we have had such an expanding channel, we have almost always failed to break out, leading to a wick below its lower trendline.
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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.