“Sentiment stays negative even after the last two days, which are bullish. As for now, this is just a short-term correction, which is aiming the 0.018 USD to test it as a closest resistance. Price action tells us that this level should be defended and the price should continue to decline. „
The last few days proved that we were right. The price managed to create the inverse head and shoulders pattern (yellow rectangle), which increased the bullish potential and gave fuel for the correction. The last two days are the best here. The price broke the neckline and is now few steps from the resistance labelled by us in our last analysis.