【BTCJPY】Will the six-gap pattern (6陰連) become a pullback setup?
In the post dated August 3, titled "[BTCJPY] Continued: Will the lower support line become resistance?", I noted that amid a recent streak of bearish candles, I would watch whether price could rebound from the level at the 50% Fibonacci retracement of the recent rise, which corresponds to the 25SMA. In practice, although six consecutive bearish candles formed, there was a rebound movement from that same level.
Therefore, today's focus is on whether that level can become a support (i.e., whether a bullish reversal can occur), and I would like to observe the price action.
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