Moved down quickly, the ichimoku cloude set up will plan am important role here.
The cloud says it all. With a fast move to the downside, which was confirmed by the TK bearish crossing inside the cloud and the kumo twist bearish price has moved down so quick and beginning to come to an end of this downward movement as it gets to its srtong support level.
price is expected to move down to the down side but respecting the diagonal resistance. The green region which is a potential strong support level, is where price is expected to reach. as seen below:
With more expected move to the down side, we expect the blue line(T) to move move aslso to the down side causing the price to be far away from the red line (K) which is called TK DISEQUILIBRIUM. And we expect a fast price bounce back to the kijun as it is always the 0.5fib retracement level.
TECHNICALS suggests that price will likely move to some low levels of 0.03943770sats - 0.03626086sats, as the set-up of the price will move back up.
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.