The market remains cautious as bearish undertones dominate the sentiment. With U.S. markets preparing to open, the focus is on key support and resistance levels for clues about the next move.
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⚠️ Market Highlights:
Risk Aversion Continues: Selling pressure intensifies as traders lock in profits, reflecting unease among investors.
Ethereum's Fakeout: A deceptive rally last night caught many bulls off guard, leading to positions in the red.
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🔍 Chart Insights:
4-Hour Chart:
Resistance: 950 (adjusted) – Failed breakout led to a bearish engulfing pattern, pushing prices lower.
Next Steps: Look for 5-candle confirmation or focus on the daily chart for a clearer direction.
Daily Chart:
Key Levels:
Bullish Momentum: Price must close above 94800 (adjusted).
Short-Term Relief: A 4-hour close above 95200 (adjusted) signals buyers regaining control.
Bearish Concerns: A break below 940 (adjusted) could trigger prolonged downward pressure.
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📌 Strategic Recommendations:
1️⃣ For Dip Buyers:
Use staggered entry strategies like 3-2-3 or 2-2-2 for controlled risk.
If heavily allocated, consider reducing exposure to avoid further losses.
2️⃣ For All Traders:
Focus on disciplined risk management to preserve capital.
Monitor tonight’s session for potential volatility and surprise moves.
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⚔️ Tonight's Market Sentiment:
Will the market fend off another bearish attack or succumb to selling pressure? Keep a close eye on key levels and be prepared for heightened volatility in the evening session.
Stay patient, stay disciplined, and trade smart. The next opportunity might be closer than you think!
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