Currently, the market looks bearish, so shorting seems to be the more likely scenario. However, due to high volatility and oversold conditions, there is a risk of a sharp rebound. For longing, wait for a clear reversal signal (for example, a bullish engulfing on the daily chart with increased volume).
🤞Entry points: For shorting (selling): Entry point: If the price makes a small retracement to the level of 0.2000–0.2100 (local resistance zone based on previous candles), this may be a good entry point for shorting. Stop-loss: Above 0.2300, to protect against a potential reversal. Take-profit: Around 0.1500–0.1600 (next support zone). Reason: Overall trend is downward, and oversold conditions may not have been exhausted yet.
🤞For longing (buying): Entry point: If the price breaks the level of 0.1799 downwards but quickly rebounds and consolidates above 0.1815 with volume confirmation, this may be a signal for longing. Stop-loss: Below 0.1700, to avoid losses in case of further decline. Take-profit: Around 0.3739 (resistance zone). Reason: Oversold conditions (RSI and other indicators) may lead to a corrective rebound, but confirmation of reversal is needed.