Time is also a factor of price action
The red line on the chart is probable 50% retracement from the beginning of wave 1 of that yellow line
if the bulls do not show-up the bears will drive the price down and eventually the red line that is temporally acting as a support will break-down
if the bulls do not show-up the bears will drive the price down and eventually the red line that is temporally acting as a support will break-down
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