Preference:
Price broke out of the descending trendline resistance , signifying a bullish momentum. We can expect price to bounce up from the pivot in line with 38.2% Fibonacci retracement and 78.6 % Fibonacci projection towards the 1st resistance in line with 127.2% Fibonacci projection.
Alternative Scenario:
Alternatively, price could revert back down to the 1st support in line with 127.2% Fibonacci projection.
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