
We highlighted the shooting star candle on 2 September in our last report. The downtrend that often follows such a candle now seems well underway with prices dropping from the peak of $26,150 to just $21,800 today (a 16.6% drop in 9 trading days). Indicators all show bearish momentum. Support at $22,050 has been breached today and the next level is at $21,000. Resistance for any recovery will be found at $22,050, $23,500 and $25,000.
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