The current decline is the third wave of the drop starting from 76, with two possible scenarios:

1. A retracement of the upward move from 60 to 76;

2. The beginning of a new decline, continuing the drop from 98 to 60;

The key level is at 63,400:

1. This level is the 0.786 retracement of the 60-76 upward wave, and also the 1:1 ratio of the decline from 76 to 67,332;

2. If the price stops falling and rebounds above this level, the probability of an adjustment is high. If it falls far below this level before stopping, then the probability of a new decline is high.