Bull run since Feb came under threat in May and even though the price has been pushing down, it has done so very slowly.
We're probably going to reach the 61.80 Fib support level as well as the 200 MA which begs the question: Are we going to see buyers come back in around 0.9725?
Assuming we're in a bearish trend, I'd definitely look at shorting the 78.60 level which is around 0.9871.
It's worth keeping track as this is the beginning of the bearish trend and any position here could end up being very profitable.
I'll be updated this as more data comes in.
We're probably going to reach the 61.80 Fib support level as well as the 200 MA which begs the question: Are we going to see buyers come back in around 0.9725?
Assuming we're in a bearish trend, I'd definitely look at shorting the 78.60 level which is around 0.9871.
It's worth keeping track as this is the beginning of the bearish trend and any position here could end up being very profitable.
I'll be updated this as more data comes in.