TECHNICAL ANALYSIS: $POW/USDT
The chart, which appears to be a 1-Hour candlestick chart for an asset trading at a very high value (likely a major crypto such as Bitcoin or another highly-priced asset, denoted as $POW based on the chart's reference), shows a sharp, aggressive reversal. The current price is \text{\$108,209.00}.
Key Indicators:
* Moving Averages (MA): The price has fallen sharply below all three Moving Averages. The short-term MA(7) is at \text{\$109,563.44}, and the medium-term MA(25) is at \text{\$109,542.69}. The price at \text{\$108,209.00} is significantly below this confluence of resistance, confirming strong bearish momentum.
* Price Action: After hitting a high of \text{\$114,000.00}, the price experienced a massive rejection, indicated by the series of large red (bearish) candles. This is a clear sign of exhausted buying pressure and a strong shift to selling dominance.
* Trend: The candles have breached the MA(99) support level at \text{\$108,720.98}, signaling a breakdown of the intermediate trend.
Short Trade Setup:
* Entry: \approx \$108,200.00 (Entering a short position at or around the current price, confirming the breakdown).
* TP 1 (Target Price 1): \approx \$107,473.00 (Targeting the recent 24h low/swing low support level).
* TP 2 (Target Price 2): \approx \$106,500.00 (Next major psychological and structural support level).
* SL (Stop Loss): \approx \$109,700.00 (Placed just above the MA convergence to invalidate the bearish setup).
Short Outlook of Market:
The immediate market outlook is strongly bearish. The aggressive rejection from the \text{\$114,000} high and the decisive break below all major moving averages on the 1-hour chart suggest that the short-term trend has reversed down. Sellers are firmly in control, and the price is expected to test the low of \text{\$107,473.72} before any potential relief rally.
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