$ORDI is setting up for a reflexive bounce after probing the late-September lows — consider buying the 7.7s for a quick pop toward 8.31 within 24 hours. Price has been in a clear downtrend since mid-July, but today’s action shows a classic short-term mean-reversion setup: intraday undercut to ~7.676 followed by a hammer-like recovery and higher lows into the afternoon. That lower tail sits squarely in a demand cluster (7.61–7.71) and coincides with the 20-day Bollinger lower band, so a stabilizing bounce is a high-probability scenario if support holds.
Technically, short- and medium-term moving averages remain bearish (5D/10D/20D slopes negative and price ~7.4% below the 20D mean), so this is explicitly a counter-trend trade with modest expectations. Momentum cues tilt in favor of a bounce: daily RSI shows a mild bullish divergence versus late-September lows, the stochastic sits deeply oversold, and price is ~1.06σ below the 20D mean — all signals that favor a mean-reversion move back toward the mid-band. ATR (~0.59) suggests a plausible 0.40–0.60 move upward within a 24-hour window.
Key intraday levels to watch — support cluster 7.61–7.71 is the base. A firm break and close below ~7.60 would invalidate the setup and open a deeper test toward 7.30–7.26. On the upside, reclaiming S1 (~7.93) would shift intraday tone; initial targets are 7.98 then 8.16 (38.2% retrace), with the primary tactical profit target at 8.31 (Tenkan/50% retrace confluence). Further strength could run 8
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