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I. Market assessment
1. Main price trend:
- Short term: Downtrend, price corrects after reaching peak of $4.1400.
- Medium term: Price in uptrend with support at MA50 ($3.6000).
- Long term: Solid uptrend, support at MA200 near $3.1000.
2. Indicator:
- RSI:
- RSI(6): 57.55, RSI(24): 61.16 - Price in neutral zone, not overbought/oversold yet.
- MACD:
- Negative histogram, downtrend, downward momentum is weakening.
- Bollinger Bands:
- Price near midline, accumulation after adjustment.
3. Important support and resistance:
- Support:
- $3.6000: Short-term MA50 support.
- $3.1000: Long term support at MA200.
- Resistance:
- $3.8000: Nearest resistance.
- $4.1400: Recent peak, strong mid-term resistance.
4. Trading volume:
- Volume decreased during the adjustment period, weak cash flow.
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II. Trend forecasting
1. Increasing scenario:
- Price target: $3.8000, $4.1400.
- Conditions: Price stays above $3.6000, RSI crosses 60, MACD crosses up, histogram turns positive.
- Chance of occurrence: 50%.
- Time frame: 1-3 days.
2. Reduction scenario:
- Estimated reduction: $3.6000, $3.1000.
- Risk: Break $3.6000 with high volume, RSI drops below 50, negative histogram persists.
- Chance of occurrence: 50%.
- Time frame: 1-2 days.
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III. Trading Recommendations
1. Current position:
- Hold Long if price above $3.6000.
- Stop loss: $3.5500.
- Take profit: $3.8000 (50%), $4.1400 (50%).
2. New transaction:
- Trend:
- Long if price breaks above $3.6500 with high volume.
- Short if price breaks $3.5500.
- Entry point:
- Long: $3.6600.
- Short: $3.5400.
- Stop loss:
- Long: $3.5500.
- Short: $3.6000.
- Take profit:
- Long: $3.8000 (50%), $4.1400 (50%).
- Short: $3.4000 (50%), $3.1000 (50%).
- R/R ratio:
- Long: ~2:1.
- Short: ~1.8:1.
- Margin/leverage:
- Long: 3x.
- Short: 4-5x.
3. Grid Bot:
- Recommendation: Can be used in cumulative state.
- Price range: $3.4000 - $3.8000.
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IV. Warning
- The downtrend could continue if the price breaks $3.6000.
- Low volume, need to monitor cash flow.
- Unexpected news can cause strong fluctuations.
