If we take a look at the daily graph, we can see that the price is looking like forming a hammer on the latest candle. If this finishes the day like this, then we can expect to see wave 5 of the elliot wave cycle take place. This is supported by the fact that we're approaching a bounce of the support line, as well as a potential outbreak of down trending resistance. If price does break then I'm expecting to see prices top around the 0.004 mark
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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.