#MyCOSTrade #KouachiSignals 💵💥$WCT $BTC $BNB
New update to previous WCT analysis confirms downtrend due to heavy selling pressure. All trades should be reversed as current support will be broken and next target is 0.4600. I closed the bullish position and will reverse my trade. Beware of the next downtrend in case current support is broken.
📊 Japanese Candlestick Analysis Across Timeframes
Weekly: A large bearish candle (open 0.6607, close 0.5776) forms a bearish engulfing pattern, with a long upper shadow (above 1.3941) indicating a price rejection of higher levels. This pattern foretells a continued decline.
Daily: A black candle (close 0.5254 < open 0.5491) with a long lower shadow (below 0.5159) forms a bearish hammer (hanging man) pattern – a strong sell signal, especially with high trading volume.
4-hourly: A small bearish candle (close 0.4866) after a short uptrend, reflecting weak buying.
Hourly: A red candle (close 0.4807) closes near the bottom (0.4777), confirming immediate selling pressure.
🔍 Fibonacci Levels and Pivot Points
Fibonacci Levels (from the high of 1.3941 to the low of 0.5083):
23.6%: 0.6785
38.2%: 0.8021 (critical resistance)
61.8%: 1.0007
Daily Pivot Points (based on the last day):
Type: Price
Pivot (P) 0.5366
Resistance 1 0.5523
Resistance 2 0.5791
Support 1 0.5098
Support 2 0.4941
The current price (0.4785) is below Support 2, indicating a strong bearish market.
📈 Complementary Technical Indicators
RSI (14): 32 - Oversold, but trading below it may continue in strong trends.
MACD: Bearish crossover below the signal line – negative momentum is building.
Stochastic Oscillator: 20 and trending down – confirmation of a continued downtrend.
⚡ Spot Trading Signals
Short on Pullback:
Entry at 0.4941 (previous support turned resistance).
Stop-loss: 0.5100 (+1.2% above the entry point).
First target: 0.4600, second: 0.4300.
Reward/Risk: 1:3.
Contrarian Buy:
Entry only when the RSI breaks above 25 with a bullish candle.
Stop-loss: 0.4700.
Target: 0.5159 (previous day's low).
⏳ Futures Trading Signals
Margin Short:
Entry at 0.4860 (current closing price).
Leverage: 5x (to avoid zeroing out during extreme volatility).
Trailing Stop Loss: Previous High +1%.
Hedging Using Options:
Buy a Put Option at 0.4900 to hedge against sudden spikes.
🔮 Expectations and News Impact
General Context: Bearish candlestick patterns across timeframes (such as Engulfing Bearish and Shooting Star) reinforce the market's downward trend.
