The bounce from 0.00007490 has the characteristics of an impulsive wave with a high 0.00012865. After this rally, the price falls in the three-phase straight correction to the level of 61% Fibo at the level of 0.00008180. In addition, the price at the end of the downward wave draws a clear , which is expected give an impulsive breakout.
Target levels for the impulsive breakout are 0.00012237 and in the case of extension level 0.00020225. Assuming such a scenario, with SL under 0.00000749, the risk-to-risk ratio is 5: 1, which is why it is a pretty decent trading setup.
Breaking the 0.000007490 level invalidates the impulsive upward scenario.
TREND and IMPORTANT LEVELS:
Main trend: DOWN
Intermediate trend: DOWN
Daily trend: DOWN (possibility of a breakout from the after correction and reversing the trend)
- for further increases - level 0.00012865
- for continuing correction - level 0.00009098
- for continuation of decreases - 0.00008180
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