OBSERVATIONS:
1. Price Trend: NEIRO/USDT is showing a downtrend with a price drop of -10.46%.
2. Moving Averages (MA):
MA5 is below MA10, confirming a bearish crossover.
Price is trading below MA60, indicating bearish sentiment.
3. MACD:
Both the DIF and DEA lines are negative and converging near zero, suggesting weak momentum.
The histogram shows diminishing bearish pressure, hinting at potential consolidation.
4. Volume: A significant spike in volume during certain intervals indicates market activity but needs confirmation on the direction.
TRADING STRATEGY:
1. Short-Term Scalping:
Entry (Short Trade): If the price retraces to MA10 (around $0.00173750), open a short position.
Stop Loss: $0.00175000 (slightly above resistance).
Take Profit: $0.00170500 (recent low as the support zone).
CONTINGENCY PLAN:
Plan A: Exit trade if price breaks above MA60 with strong volume.
Plan B: If price consolidates between $0.001705 and $0.001740, re-evaluate trend strength.
2. Potential Reversal Long Setup:
Entry (Long Trade): If price reclaims MA60 with volume support.
Stop Loss: $0.00171500 (just below breakout candle).
Take Profit: $0.00180000 (previous resistance zone).
CONTINGENCY PLAN:
Plan A: Tighten stop loss to breakeven if MACD shows divergence.
Plan B: Exit trade if price rejects MA60 on retest.
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CONFIRMATION TOOLS:
1. Bollinger Bands: Check if price breaks below the lower band (for short) or reclaims the mid-band (for long).
2. RSI: Monitor RSI for oversold (<30) or overbought (>70) conditions to validate entries.
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