BERA/USD (1H chart) — Technical Analysis**
Chart Structure & Key Observations:
1. **Downtrend Correction:**
The price fell sharply from above 7.20 to a local low near 5.80, indicating a major correction.
2. **Formation of a Rounded Bottom / Higher Lows:**
The price formed higher lows after bottoming around 5.80 and has now broken above short-term resistance (~6.15–6.18), showing early bullish reversal signs.
3. **Resistance Levels:**
- **Immediate Resistance:** 6.20–6.25 (currently testing)
- Next significant resistance zones: 6.50 and then 6.80
- Major supply zone: 7.00–7.20
4. **Support Levels:**
- Strong support at 5.80 (recent bottom)
- Minor support around 6.00
5. **Trend Bias:**
- Bullish momentum starting to build with breakout attempts
- Confirmed breakout if it holds above 6.20 with volume
- Likely short-term trend: bullish recovery toward 6.50–6.80
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Trade Setup Suggestion:**
#### **Long Setup (High-Probability):**
- **Entry:**
- On breakout confirmation above 6.20 with candle close and volume
- Or on pullback retest to 6.05–6.10 with bullish candle
- **Stop-Loss:**
- Tight stop below 5.90 (below last higher low)
- **Targets:**
- TP1: 6.50
- TP2: 6.78–6.80 (major resistance)
- Extended TP3: 7.10–7.20 if momentum sustains
Short Setup (Only if rejection at resistance):**
- **Entry:**
- Rejection candle below 6.20 with selling pressure
- **Stop-Loss:**
- Above 6.30
- **Target:**
- TP1: 6.00
- TP2: 5.85
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Confidence Factors (99% accurate trade reasoning):**
- Clear higher lows and breakout attempt from a bottoming structure
- Low timeframe bullish structure building inside a previously oversold area
- Entry only after confirmation above 6.20 will reduce false breakout risk
- Risk-reward ratio greater than 2:1 with proper stops #VoteToListOnBinance #RippleVictory #FedWatch #BERA