1. General technical analysis
Short-term trend: Bullish with pullbacks. The price has formed higher lows, indicating buying pressure.
Last price: $599.80 (very close to an important psychological zone: $600).
Volatility: Moderate-high on the minute to minute, with sharp movements.
Candles: Recent movements show large green candles, indicating buyer interest.
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2. Support and resistance
Resistances:
$600.59: Highest level reached in this range (confirmed as local resistance).
$603.81: Daily resistance (24h High).
Supports:
$597.67: Recent local minimum, immediate support.
$595.00: Daily support (24h Low), strong in case of bearish breakout.
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3. Entry and exit zones
Possible entry (long):
On pullback towards $598.50 - $598.00, near support with confirmation of bounce.
Confirm with a strong bullish candle or reversal pattern (hammer, bullish engulfing).
Exit / Take Profit (TP):
TP1: $600.50 (intra-day resistance zone).
TP2: $603.00 - $603.80 (strong resistance zone of the day).
Stop Loss (SL):
Below the recent support: $597.40 or $596.90, depending on the risk you tolerate.
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4. Recommendations
For scalping (1m):
Take advantage of the channel between $598.00 and $600.50.
Use trailing stop once $600 is broken with volume.
Do not trade if the price is sideways without volume.
For intra-day swing:
Wait for a pullback to the demand zone and enter if a bounce is confirmed.
Be careful if the price breaks $595 forcefully: possible trend change.
General recommendation:
Do not buy directly at resistance ($600), wait for a pullback.
Monitor the volume and order book behavior, as now the supply dominates (73%).
