$REEF W1 Bearish Idea.

$REEF has tumbled down to a staggering -85.49% since its September pump.

Somehow, it seems price has not gone past the huge Be-OB, and price had a sudden dump last 15th of October before getting a chance to reach $0.011. One factor I see with this event was the Paribu issue wherein REEF investors had their funds stuck due to a mismatch between the BSC and ETH networks.

Now, people have been saying that $0.02 was the bouncing point of the coin but unfortunate comings had it breakdown towards the $0.015 price zone.

I see more dip coming based on what my chart shows in its weekly. Market is now currently trading below weekly EMAs, possibly looming for an impending DX if price continues to fall. It has now broken 88% Fib level, suggesting strong bearish pressure.

Most likely, for a swing short on this, the 127% extended Fib level would be a likely target if support at $0.011 gets broken.