OBSERVATIONS:
1. Price Action:
Current price: 93,706.85 USDT.
24h High/Low: 95,908.59 / 91,466.52.
Price is down 1.78%, indicating short-term bearish sentiment.
2. Moving Averages (MA):
MA60 (93,982.51) is above the current price, suggesting the asset is trading below its 60-period average—a bearish sign.
3. MACD Indicator:
MACD (20.19) is above the signal line (-45.89), indicating potential bullish momentum but still in early stages.
DIF (-25.70) remains negative, showing bearish dominance overall.
4. Volume:
Recent volume spikes suggest significant activity, potentially signaling a trend reversal or continuation.
TECHNICAL ANALYSIS STRATEGY:
1. Long Trade Plan (Bullish Setup):
Entry Point: If price breaks and sustains above the MA60 (93,982.51).
Stop Loss: Below the recent swing low at 91,466 USDT to limit downside risk.
Take Profit Levels:
TP1: 95,000 USDT (psychological resistance).
TP2: 97,500 USDT (next resistance zone).
Confirmation Signal: Watch for MACD crossover into positive territory and increased buying volume.
2. Short Trade Plan (Bearish Setup):
Entry Point: If price falls below 93,000 USDT (psychological support).
Stop Loss: Above 93,982 USDT (MA60 resistance).
Take Profit Levels:
TP1: 91,500 USDT (24h low).
TP2: 90,000 USDT (historical support).
Confirmation Signal: Observe if MACD starts declining further and volume supports selling pressure.
CONTINGENCY PLAN:
If price consolidates near the current level without decisive movement, avoid trading until a breakout occurs.
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