🔷 DEXE/USDT
Date: December 21, 2024
Time Frame: 15-Minute Chart
🟩 Long/Short?
• Long is the optimal option. The price has been showing some signs of consolidation around the recent support level, and the market is showing potential for a short-term reversal.
♻️ Leverage:
• 2x-3x leverage would be prudent in this scenario, given the volatility in the market. A lower leverage approach is recommended for risk management.
👉 Entry:
• 8.690 USDT (Current market price): Enter the position near the support zone to maximize potential upside.
🎯 Target:
• 8.800 USDT: The first resistance level, where the price is likely to encounter some selling pressure.
• 9.000 USDT: The next key resistance level, based on the recent price action.
• 9.200 USDT: If the momentum continues, this is a logical next target.
📉 Support Levels:
• 8.474 USDT: The immediate support level after recent price movements. A bounce from here is likely if the market shows upward momentum.
• 8.300 USDT: A deeper support level that could act as a safety net for potential dips.
⛔ Stop Loss:
• 8.300 USDT: Place your stop loss just below the support level to protect against a larger downward movement.
⚖️ Market Sentiment:
• Long Bias: 58% Long
• Short Bias: 42% Short
• The sentiment is slightly biased towards long positions, indicating the market’s preference for potential upward movement.