🔭 OMNI/USDT SIGNAL 🎯

◻️ Technical Analysis :

1. Chart Pattern

• The chart shows a “descending channel” pattern where prices move within a downward-sloping channel.

• Strong support level at 13.09 - 13.72, with attempts to break below this level failing, indicating strong support.

2. Technical Indicators

• MACD: Indicates an oversold condition with a potential for a near-term reversal.

• RSI: At 38.84, suggesting the market is approaching oversold territory. There is a bullish divergence, supporting the possibility of a reversal.

• Volume Delta: The sharp decline in trading volume confirms weak bearish momentum.

◻️ CoinGlass Indicators :

3. Funding Rates:

• Positive funding rate (0.0067), indicating that margin traders are inclined towards long positions.

4. Open Interest:

• Significant increase in open interest (398.734K - 401.672K), suggesting high market interest which could lead to substantial price movements.

5. Aggregated Futures Orderbook Liquidity Delta:

• Positive value (3.173K), indicating increasing liquidity on the demand side, which could support an upward trend.

6. Long/Short Ratio:

• Current ratio (0.9055) indicates a greater number of long positions compared to short positions, suggesting market optimism about price direction.

📊 The Strategy 📊

Entry and Exit Points

1. Entry

• Initial entry at the support level of 13.09 - 13.72. Enter if the price is near this level with strong reversal signals.

• Reinforce the position if the price breaks above 13.72 with high trading volume.

2. Exit

• Initial target at 22.71 - 22.83.

• Set a stop loss below the support level of 13.09 to minimize losses.

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Coin selected by @TB303_L