🔭 OMNI/USDT SIGNAL 🎯

◻️ Technical Analysis :
1. Chart Pattern
• The chart shows a “descending channel” pattern where prices move within a downward-sloping channel.
• Strong support level at 13.09 - 13.72, with attempts to break below this level failing, indicating strong support.
2. Technical Indicators
• MACD: Indicates an oversold condition with a potential for a near-term reversal.
• RSI: At 38.84, suggesting the market is approaching oversold territory. There is a bullish divergence, supporting the possibility of a reversal.
• Volume Delta: The sharp decline in trading volume confirms weak bearish momentum.

◻️ CoinGlass Indicators :

3. Funding Rates:
• Positive funding rate (0.0067), indicating that margin traders are inclined towards long positions.
4. Open Interest:
• Significant increase in open interest (398.734K - 401.672K), suggesting high market interest which could lead to substantial price movements.
5. Aggregated Futures Orderbook Liquidity Delta:
• Positive value (3.173K), indicating increasing liquidity on the demand side, which could support an upward trend.
6. Long/Short Ratio:
• Current ratio (0.9055) indicates a greater number of long positions compared to short positions, suggesting market optimism about price direction.

📊 The Strategy 📊
Entry and Exit Points
1. Entry
• Initial entry at the support level of 13.09 - 13.72. Enter if the price is near this level with strong reversal signals.
• Reinforce the position if the price breaks above 13.72 with high trading volume.
2. Exit
• Initial target at 22.71 - 22.83.
• Set a stop loss below the support level of 13.09 to minimize losses.
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Coin selected by @TB303_L