Looking at the BTCDOMUSDT chart:
Observations:
1. Current Price: $2,834.6 (+2.42%)
• The price is close to the 24-hour high of $2,845.7, indicating strong upward momentum.
2. Trend:
• A sharp breakout from $2,752.3 to the current level shows strong buying interest.
• The price is above both the MA(5) and MA(10), confirming a bullish trend.
3. Volume:
• A significant increase in volume during the breakout suggests strong participation from buyers.
4. MACD:
• Positive divergence on the MACD indicator suggests the bullish momentum may continue in the short term.
Recommendation:
Short-Term Outlook:
• Long Entry:
• If the price breaks above $2,845.7 (resistance) with strong volume, it could continue toward $2,880 or higher.
• Short Entry:
• If the price rejects $2,845.7 and falls below $2,810 (minor support), a short trade targeting $2,770 (stop market level) may be an option.
Risk Management:
• Place a stop-loss for a long position below $2,810.
• Place a stop-loss for a short position above $2,846.
Action Plan:
• Take a long position only on confirmation of a breakout above $2,845.7.
• Avoid shorting unless the price falls below $2,810 with clear selling pressure.