- Edited on November 3, 2021
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Preference:
Price is abiding to descending trendline resistance, signifying bearish momentum. We can now expect price to drop from the pivot level in line with 78.6% Fibonacci projection towards the 1st Support in line with 78.6% Fibonacci projection.
Alternative Scenario:
Alternatively, price could push up to the 1st resistance in line with 61.8% Fibonacci retracement .