$NOT #Dyor2024 #Everyone #WeAreAllSatoshi #BinanceSquareFamily #followers
### Technical Analysis
1. *Current Trend**:
The 4-hour chart shows that NOTUSDT is in a **downward trend**. The price has dropped from a recent high of 0.009826 and is struggling to maintain levels above the 0.007500 mark. The price is currently trading below the key Moving Averages (MA7, MA25, and MA99), which indicates short-term weakness.
2. **Support and Resistance**:
- **Support**: Strong support at 0.006937, the recent low.
- **Resistance**: Key resistance at 0.007852, which coincides with the 25-period moving average. The next resistance level would be around 0.008127 (99 MA), which could act as a long-term pivot.
### Indicators Interpretation
1. **RSI (Relative Strength Index)**:
The RSI is at 33, suggesting the asset is **close to oversold** but not quite there. This can indicate potential for a rebound, though further confirmation is needed.
2. **MACD (Moving Average Convergence Divergence)**:
The MACD line is slightly below the signal line, indicating **bearish momentum**. The histogram bars are also in the negative, supporting the downtrend. There has been no clear bullish crossover signal yet.
3. **Volume**:
The volume has decreased significantly after a sharp rise during the last price surge, indicating **weak buying pressure**. A lack of strong volume on rebounds suggests weak conviction behind any bullish moves.
### Pattern Recognition
No strong or complete patterns, such as **Double Bottom** or **Head and Shoulders**, are clearly visible on the chart. However, based on the structure, we can see elements of a **Bearish Pennant** formation, which may signal a continuation of the current downtrend.
### Trade Strategy Development
#### Short-term Trading (Scalping)
- **Entry Point**: Around 0.007500
- **Take Profit (TP)**: 0.007200 (short-term support)
- **Stop Loss (SL)**: 0.007800
- **Duration**: 30 minutes to 2 hours
#### Intraday Trading
- **Long Entry**: If price breaks above 0.007852 with volume confirmation.
- **TP**: 0.008100 (next resistance at 99 MA).
- **SL**: 0.007400
- **Duration**: 4 to 6 hours
- **Short Entry**: If price drops below 0.007200, confirming a continuation of the downtrend.
- **TP**: 0.006950 (next key support).
- **SL**: 0.007500
- **Duration**: 3 to 5 hours
#### Long-term Trading
- **Entry Point**: Consider a long entry near the 0.006937 support level if RSI confirms oversold conditions and there's a bullish reversal.
- **Take Profit (TP)**: 0.008500 (potential rebound to previous highs).
- **Stop Loss (SL)**: 0.006500
- **Duration**: 2 weeks to 1 month
### Risk Management
Given the volatility and the strong downtrend, it's essential to keep the **position size small** and use **strict stop-loss orders**. Make sure not to overleverage, as the market shows signs of weakness, and unexpected moves could cause higher risk.
### Trading Recommendation đ
**Short Entry**: Enter at **0.007500**, with a Stop Loss at **0.007800** and Take Profit at **0.007200**. Duration: 1-2 hours.
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