After making a low at 0.26 we rallied to test the 50% Fib level and failed to close above. We have since retraced to test the 100EMA as support. As of now we are trading above the level and look to see how the candle will close.
We can see here that the follow through on this move down was the result of a bearish break of a H&S pattern. We are looking for a higher low or continuation on the 4Hr chart. If we make a lower low that will put us below the daily 100EMA and will call for sighs of further downside.
Ideally we would like a close above the neckline and a retest of support to confirm bullish bias.
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