#BTCNextMove Trading Analysis for $ME/USDT (30m)
Current Price: $2.933 (-7.91%)
Technical Overview:
The pair is experiencing selling pressure, with the price testing lower levels. Key levels have been identified to watch for potential rebounds or breakdowns in the near term.
Key Levels and Targets:
1. Immediate Support - $2.870:
A significant support level where buyers may step in. If this level holds, a price rebound is possible.
2. Resistance - $3.050:
The first key resistance level. Breaking this could signal short-term bullish momentum.
3. Breakout Level - $3.200:
A critical resistance point. A breakout above this level could confirm a trend reversal and attract strong buying interest.
Action Plan:
For Long Positions:
Consider accumulating near $2.870.
Target $3.050 for partial profit-taking and $3.200 for a full exit.
For Short Positions:
Look for entry opportunities near $3.050 or $3.200 if price rejection occurs.
Set targets at $2.870.
Risk Management:
Use a stop-loss below $2.850 for long positions or above $3.200 for shorts, depending on your trade direction.