Excellent update of the 1 hour chart!
Analysis:
*Technical Indicators:*
- Histogram: -58.18 (bearish divergence)
- Signal: -334.31 (sell signal)
- MACD: -394.70 (strong sell signal)
- RSI: 28.7 (oversold)
*Moving Averages:*
- EMA200: 69.500 (key resistance)
- EMA50: 69.129 (secondary resistance)
- WMA35: 68.677 (dynamic support)
*Current Price:* 67.770
*Analysis:*
- Bearish divergence on the histogram and MACD suggests a continuation of the bearish movement.
- RSI in oversold zone indicates a possible bounce, but not necessarily a change of trend.
- Moving averages (EMA200, EMA50 and WMA35) are above the current price, suggesting a bearish trend.
*Possible scenarios:*
1. *Bearish continuation:* Target price: 65,000 - 63,000.
2. *Rebound:* Target price: 69,000 - 70,000 (key resistance).
3. *Consolidation:* Price range: 67,000 - 69,000.
*Strategies:*
1. Sell: At resistance of 69,000 with stop loss above 70,500.
2. Buy: At support of 65,000 with stop loss below 63,500.
Remember that the market is unpredictable and it is important to adapt to changes. What is your current strategy?