RESIST 1 = $ 81xx
RESIST 2 = $ 93xx
SUPPORT 1 = $ 64xx
SUPPORT 2 = $44xx
as a trader I have not tried how to use the Fibonacci indicator, usually I only use the RSI and MACD indicators no more, but as a trader I understand because not all have the same way of thinking and always have a different point of view in analyzing, I see buying support in $ 5500 isn't sure it's at $ 44xx
It's good to look for confluence between Fibonacci levels
and horizontal support/resistance. In the $5,500 area we have both pivot support from last April and the 0.786 level.
Next, I would look at the $4,300 area because we have pivot resistance from December 2018 and this past February, plus the 0.886 level.
If we hit the $4,000s again I'll be pretty pessimistic though. Retracing virtually all of the 2019's gains will look pretty bearish.