$XNO ๐ข XNO/USDT โ Binance (1-Hour Chart Analysis) ๐
๐
Date: February 15, 2025
โณ Timeframe: 1-Hour Chart
๐ Suggested Trade Duration: Short-Term (1-6 hours)
๐ Current Price: $1.607
๐ Trend Signal: Bearish Continuation ๐จ
๐ฅ Technical Analysis โ Bearish Setup
๐ Chart Pattern Analysis
๐ Pattern Formed: Descending Triangle Pattern
๐ป Breakdown Watch: A descending triangle is forming, signaling a possible bearish breakdown below $1.600.
๐ง Key Resistance: $1.630 (Breakout invalidates the pattern).
๐ Support Zone: $1.545 - $1.500
๐ Candlestick Formation
๐ฏ๏ธ Recent Candlestick Formation:
Bearish Engulfing Candle (Prior Close) โก๏ธ Confirms strong selling pressure.
Lower Highs & Lower Lows โก๏ธ Classic sign of a bearish trend.
Weak Bounce from Support โก๏ธ Buyers failing to hold key levels.
๐ด Sell (SHORT) Setup ๐ฐ
โ
Entry: Below $1.600 (Breakdown Confirmation)
โ Stop Loss: $1.630 (Above Triangle Resistance)
๐ฏ Target 1: $1.545 (First Support Zone)
๐ฏ Target 2: $1.500 (Major Support)
โณ Trade Duration: 1-6 hours
๐ Indicator Confirmation
๐ Volume Analysis:
๐ธ Decreasing Buying Volume โก๏ธ Suggests buyers are losing control.
๐ธ Breakdown needs a volume spike for confirmation.
๐ RSI (Relative Strength Index):
๐ธ Current RSI: 49.48 โก๏ธ Below 50, indicating weak bullish strength.
๐ธ Falling RSI Trend โก๏ธ Momentum shifting bearish.
๐ DMI (Directional Movement Index):
๐ธ -DI (Red) Crossed Above +DI (Green) โก๏ธ Bears are in control.
๐ธ ADX Flat โก๏ธ Waiting for stronger trend confirmation.
โ ๏ธ Risk Management & Considerations
โ
If price stays below $1.600, expect further downside.
โ
If price breaks above $1.630, invalidate bearish setup & exit.
โ
Confirmation needed with a volume spike for a strong move.
๐ข ๐ Trade Smart & Manage Risks! ๐
๐ฒ Follow for More Crypto Insights & Analysis! ๐ฅ
โ ๏ธ Disclaimer: Not financial advice. Always conduct your own research before trading! ๐
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