From the ATH, we can see from the candlestick pattern it has been a strong bearish momentum. A minor support level @ 3340.00 has been broken, confirming the downtrend and heading for the next support level slightly after the 23.6% Fibo level. This is a level to watch. There is still a chance it will reverse back from here but based on previous statistics, after an ATH it will drop at least 50% of its last climb. So 50% Fibo level is our target for now.
Let's keep the technical simple and easy for all to understand.
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