Hey
Sad news as our $7,780 support did not hold.
It is clear to me we may be targeting the lower trendline, which if is to break i have listed supporting regions.
Primary Target: $7,198 - $7,305
$7,198 being the 0.786 fib retracement level.
$7,305 being the 0.5 fib extension level.
$7,198 regions hugging the base of the triangles trendline.
IF THIS IS TO BREAK DOWN.
Support At: $6,685 at 0.618 extension.
Support At: $5,802 at 0.786 extension.
Support At: $4,668 at 1:1 extension.
This is not including psychological supports at both 7k and the previous lower low.
Heres my chart, i will be watching closely as we approach the bottom trendline.
Not safe until a clear break of $9,000 + occurs. (the top trendline)
Legal Disclaimer: I am only as good as guesses and fibonacci , i love to share my information however i am not telling anybody to specifically follow in any of the trades or decisions i make. I win , I lose but at the end of the day i use this all as a platform to share my opinions on possible outcomes and trades i will be completing. Happy Trading!