1. CURRENT OBSERVATIONS:
Price: The current price is 0.7067, down 1.79%.
Volume: Significant trading activity is visible; the recent candles show strong buying (green) and selling (red) activity.
Moving Averages (MAs):
MA(5): 18,770.2 (short-term trendline, yellow)
MA(10): 17,295.6 (medium-term trendline, red)
MACD: Histogram is positive, showing potential bullish momentum building.
DIF: 0.0003 (signal line crossing above the MACD line).
DEA: -0.0006 (indicating a recent reversal).
2. KEY 🗝️ LEVEL's.
Resistance: Around 0.7156 (recent highs before pullbacks).
Support: Around 0.6978 (last low before the rebound).
24h High/Low: Price ranges between 0.7429 (high) and 0.6593 (low).
3. TRADE SETUP:
Bullish Scenario (Long Entry):
Entry Point: Above 0.7100 (breaking resistance confirms momentum).
Stop Loss: Below 0.6970 (to minimize loss if support breaks).
Take Profit: Targets:
1. 0.7200 (minor resistance).
2. 0.7400 (24h high).
CONTINGENCY PLAN:
If price consolidates between 0.7050-0.7100, wait for a breakout.
Bearish Scenario (Short Entry):
Entry Point: Below 0.6950 (breaking support signals bearish trend).
Stop Loss: Above 0.7070 (to protect against false breakdowns).
Take Profit: Targets:
1. 0.6850 (recent lows).
2. 0.6600 (24h low).
Contingency Plan:
If the price bounces back above 0.7000, exit or consider reversing position.
4. INDICATORS TO WATCH:
Volume: Ensure that breakouts/breakdowns are accompanied by strong volume.
MACD: Continuation of the upward momentum (bullish crossover) indicates further price increase.
Moving Averages: If MA(5) crosses above MA(10), it strengthens the bullish signal.
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