Long-term going back to 0.19 before up

Blue Trendline and zones; Sign of demand weakness.

Monthly ;
-Price closed under the 0.80 zone back in August'18 and failed to go back upside the zone since and the 4 times it tested the zone it showed weakness of demand. The only time that price went over the level was during last November when it went upside to the .80 and to show sign of weakness from demand and see it drop all the down back under 0.30 on a bullish engulfing moving on heavy supply.

And all of this tell me that except going to play around the 0.40 zone, the market is telling us that it is under a key resistance level for now and had struggle to break it multiples times and it still be the case if we look at the last month candle and how it's reacting this month with the aggressive wicking to the downside at the 0.40 zone.



The reason WHY I am only seeing as a secure downward target at the 0.18-0.20 zone and not lower is because as it's approaching this zone. So I expect a retracement back up testing to 0.40 and there analyze what the market wants to do. But a drop all the day down to 0.10 remains an option LONG-TERM. Will and could possibility consolidate between the 0.20-0.40 before doing so.