1. Price forecast
• Short term: The downward movement is expected to continue with a possible test of the support level around $2.00T. In case of a rebound from this level, an increase to $2.20T is possible.
• Medium-term: If the $2.00T level is broken down, a decline to $1.80T is possible, but if support holds, there is potential for consolidation in the $2.00T - $2.30T range.
2. Support and resistance levels
• Support: $2.00T, $1.80T
• Resistance: $2.20T, $2.30T
3. Entry, exit, stop loss points for 🟢LONG position
• Entry point: $2.00T - $2.05T upon confirmation of a rebound and reversal on volumes.
• Exit point: $2.20T - $2.25T.
• Stop Loss: $1.95T.
4. Entry, exit, stop loss points for 🛑SHORT position
• Entry point: $2.15T - $2.20T upon rebound from resistance level.
• Exit point: $2.00T - $1.95T.
• Stoploss: $2.25T.
5. Ratio of LONG/SHORT positions:
At the moment, the distribution between LONG and SHORT positions can be assessed as follows:
• LONG positions: 45%
• SHORT positions: 55%
New conclusion taking into account the ratio:
Bearish sentiment prevails in the market, which is confirmed by a higher percentage of 🛑SHORT positions (55%) compared to 🟢LONG positions (45%). This increases the likelihood of the downtrend continuing.
Thus, the 🛑SHORT scenario has a higher probability of successful execution. In the event of a rebound from the $2.20T level, short positions with a target of $1.95T look preferable. However, if support at $2.00T holds and volumes begin to rise, a quick recovery to $2.20T is possible, opening up the possibility of short-term 🟢LONG positions.
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