I am currently short but I will be watching this support zone carefully.
Scenario 1:
Buyers step in again to defend this support and price bounces up. Depending on the price action, I will exit my short position and look to go long on a retracement.
Scenario 2
Price cleanly breaks through the support zone and it becomes a level of resistance. This could be the start of a bear market.
Either way this represents a big trading opportunity. May the markets be with you!
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