Based on 5 INIT charts across time frames: 5m, 15m, 1h, 4h, 1 day, we will analyze the main technical indicators and propose a reasonable trading plan based on the current situation:
Summary of main indicators
1. Current price: Fluctuating around 0.6792-0.6802 (-0.18% to -0.28%)
2. EMA line:
- Short-term EMA (7) is crossing below medium-term EMA (25,99) in most charts
- Sorted in descending order EMA(7) < EMA(25) < EMA(99) indicates a downtrend
3. RSI:
- Ranging from 27-50 (mostly below 50)
- Some charts show RSI(6) below 30 (short-term overselling)
4. MACD:
- The DIF line is below the DEA line in most cases
- MACD histogram is mostly negative but shows signs of narrowing
5. Volume:
- Strong volatility from 8k to 1.8M
- Volume MA decreases across many charts
Trend analysis
The market is in the state:
- Short and medium-term downtrend
- Signs of short-term overselling (RSI(6) ~27)
- Volume decreases along with price
- MACD may prepare for a short-term recovery
Trading plan
1. Short-term bottom-fishing strategy (high risk)
- Buy: When RSI(6) <30 and the price tests the range 0.6711-0.6792
- Stop loss: Below 0.6710 (~1.2%)
- Take profit: 0.6882-0.6920 (nearby resistance level)
- Success probability: ~55-60% (still in overall downtrend)
2. Main trend following strategy (safer)
- Short selling: When the price breaks below 0.6711 with increased volume
- Stop loss: Above 0.6793 (~1.2%)
- Take profit: 0.6531-0.6445 (historical support level)
- Success probability: ~65-70% (according to the main trend)
3. Breakout waiting strategy
- Wait for a clear price breakout:
- Above 0.6920: Buy with target 0.7247-0.7613
- Below 0.6711: Sell with target 0.6531-0.6445
- Success probability: ~60% (needs volume confirmation)
Risk management
1. Should not trade more than 1-2% of capital per order due to high volatility
2. Prioritize sell orders according to the main trend
3. Closely monitor major support/resistance levels
4. Pay attention to news about the INIT project that may significantly impact the price
$Conclusion
Currently, INIT/USDT is in a downtrend with indicators showing no strong reversal signals. The main trend selling strategy is the most appropriate. Consider short-term reversal trading if RSI falls deep into overselling and shows recovery signals. Always use stop loss to manage risk.