$ALCH/USDT POTENTIAL BOUNCE TRADE SETUP (HIGH RISK)
Current Analysis:
$ALCH is currently trading around 0.11577, following a sharp downward move as seen on the chart. The price has hit a significant low in the recent past ($0.10642), suggesting it may be heavily oversold on the short-term timeframe (15m/1h). The last candle is showing a long wick to the downside and a small body, indicating potential short-term buying pressure trying to form a temporary bottom. A bounce from this area, or slightly below the low, is a possibility for a quick reversal trade.
Entry Zone:
0.11000 - 0.11600 (Attempting to catch a bounce near the recent low and psychological support).
Target Points (TPs):
Given the strong sell-off, these are short-term targets to scalp the bounce:
TP1: 0.12300 (Near the base of the last major red candle)
TP2: 0.13300 (Potential resistance from a previous support zone)
TP3: 0.14100 (Near the midpoint of the entire dump)
Stop Loss (SL):
Set stop loss strictly below the 24-hour low at 0.10500 to protect capital if the bearish momentum continues.
Buy and Trade $ALCH
on Binance Futures (Perp Contract)
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