$CATI ⛔MORE TROUBLE INCOMING ⛔
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So continuing from where I left off. "I told you it's coming", this was the title for the post depicting the fall to $0.81 and waiting to find a new support zone.
People were confident of a rebound from there and going straight to a $ again. Buying that level as the dip didn't really work out. New support levels have been discovered and a retest is the need of the hour as the RSI has hit a rock bottom. A below 15 RSI is a sign of rebound from this point.
But that joy won't last long either if you're planning to go long. No doubt a small scalp would come in handy but don't think of a bigger target as attempting to break $0.81 will lead to another rejection. Even if it breaks above this level, surpassing $0.84 will be a challenge which is turning out to be a decent enough hurdle.
From there the support will be tested again. A consolidation will test the price of its direction and a breakdown will usher it towards $0.73 again. For the second time it would be difficult to stop the bears and a further decline towards $0.70 & even $0.65 could be seen very soon.
*This is not investment advice. Please do your own research before taking any trade.
