Trend Analysis: The price is currently below the 7-day (yellow) and 25-day (pink) moving averages, indicating a bearish short-term momentum.
Support and Resistance:
Key support at $1.1384 (recent low).
Resistance near $1.2242 (7-day MA) and $1.2909 (25-day MA).
MACD: Bearish momentum with MACD and signal lines below the zero level and histogram showing declining selling pressure.
Volume: Recent volume spikes indicate increased selling pressure.
Strategy
Long Position
Entry Point:
Enter near $1.138–$1.150 if the price shows a bullish reversal (e.g., a green candle or support holds).
Take-Profit (TP):
TP1: $1.2242 (7-day MA).
TP2: $1.2909 (25-day MA).
Stop-Loss (SL):
SL: $1.120 (below recent low).
Short Position
Entry Point:
Enter near $1.220–$1.230 if price faces rejection at the 7-day or 25-day MA.
Take-Profit (TP):
TP1: $1.150 (support zone).
TP2: $1.138 (recent low).
Stop-Loss (SL):
SL: $1.250 (above resistance zone).
Trade Duration
Short-term trade: Hold for 1-3 days, depending on price action near support/resistance levels.
Contingency Planning (Plan A, B, C, D)
Plan A (Market Moves in Favor)
Gradually move stop-loss to breakeven once the price hits TP1 to secure profits.
Close 50% of the position at TP1 and let the rest run to TP2.
Plan B (Price Breaks Support/Resistance)
For a long position, exit if price breaks below $1.120 to avoid further losses.
For a short position, exit if price breaks above $1.250, as it may signal a bullish reversal.
Plan C (Market Consolidates)
If price consolidates in a narrow range (e.g., $1.150–$1.200), tighten the SL and wait for a breakout or breakdown before re-entering.
Plan D (Unexpected Volatility)
Use a trailing stop-loss of 3-5% below/above the current price to protect against unexpected sharp reversals.
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