Chart Analysis
Trend Overview:
The price recently bounced back after hitting a low of 92,272.6, showing some short-term bullish momentum.
However, it remains under the MA(99) (97,145.1), suggesting the broader trend might still be bearish.
The price is currently hovering around 96,096 USDT, slightly above the MA(7) (94,998.3) and MA(25) (94,495.1), indicating a potential upward move if it sustains above these levels.
Volume:
Increased buying activity (green volume bars) suggests a short-term recovery. However, momentum might weaken near resistance zones.
Support and Resistance Levels:
Support: 92,272 (recent low), 94,000 (psychological level).
Resistance: 97,145 (MA99), 98,243 (recent swing high).
Entry and Exit Points
Entry:
Enter near 94,500–95,000 USDT if the price pulls back to this level and shows signs of support (e.g., higher lows or bullish candles).
Exit (Take Profit):
TP1: 96,800 USDT (current resistance near the MA99).
TP2: 98,000 USDT (recent swing high).
TP3 (Aggressive): 99,500 USDT (key resistance zone above the chart).
Stop Loss (SL)
Place your stop loss below the 92,200 USDT support level, as a breach of this zone could lead to a significant downtrend.
Risk Management
Risk-to-Reward Ratio (RRR): Aim for at least a 1:2 RRR, meaning your potential profit should be double the amount you're risking.
If risking 1,000 USDT, your target profit should be at least 2,000 USDT.
Position Sizing:
Risk no more than 1–2% of your total capital on this trade.
For example, if you have $10,000, risk only $100–$200.
Trailing Stop: Use a trailing stop to lock in profits as the price moves in your favor. For instance:
If the price reaches 96,800, move your SL to 95,500 to secure partial profits.
Final Advice
Monitor volume and candlestick patterns near the entry zone for confirmation (e.g., bullish engulfing or strong green candles).
Avoid chasing the price if it breaks out suddenly; wait for pullbacks.
If the price breaches the MA(99) and sustains above 97,500, it could indicate further bullish momentum. Conversely, if it falls below 94,000, the bearish trend may resume.
Always stick to your risk management plan and avoid overleveraging.