Thesis: Fibonacci levels represent presumed resistance and support for retests of price history. Moving Averages are historical averages based on specific timeframes and can help us foresee potential support and resistance levels. The correlation between Moving Averages has displayed sales pressure and buyers' support for these levels. Assuming the above and the chart provided that traces the moving averages with correlating Fibonacci retracements, does this indicate seller exhaustion or more bearish pain to endure? The takeaway, if we see some further pressure from the MVAs expect another leg down. Perhaps to $13,700.

NOT FA: DYOR.

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