Looks like Neo failed to climb over the major fibo resistance and remains in the descending channel. I am expecting further downward pressure against Bitcoin at this time.
Key levels to watch to the upside: - Sub-fibo ressitance at 0.00688 - Key fibo resistance at 0.00768 - A breach of the downtrend line to the upside
Key levels to watch to the downside: - End of the long box at 0.00617 - Sub-key fibo support at 0.00568 - Major key fibo support at 0.00553
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Correction wave-D?
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Wahooo! We breached the trendline and major key support line. Looking for signs of stability in the major long box.
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There are two trading range supports in the long box (I don't have a chart atm). Odds are high there will be a reversal here at one of those, or at the edge of the box. We should then swing around back to the sub-fibo level (purple line where we have correction point D).
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Trading below the major key fibo. This is a long box area where a reversal is likely, particularly at correction point E.