๐ Key Indicators and Current Situation:
๐ Price:
Current Price: $3,615.42
24h Low: $3,563.60
24h High: $3,820.38
Current movement: Downtrend
๐ Moving Averages (EMA):
EMA(9) = 3,700.66 (yellow)
EMA(21) = 3,746.30 (pink)
EMA(50) = 3,734.85 (purple)
๐ The price is below all major EMAs, which confirms a strong bearish trend.
๐ MACD:
MACD = -23.74, DIF = -33.44, DEA = -9.69
The histogram is negative and expanding โ showing increasing bearish momentum.
โ ๏ธ Stochastic RSI:
STOCHRSI = 0.00
Indicates the asset is extremely oversold, which could suggest an upcoming short-term bounce.
๐ Short-Term Forecast (4h to 1 Day):
๐ด Bearish trend dominates, but:
There could be a short-term relief bounce up to the $3,660โ$3,700 area due to oversold RSI.
If the bounce fails to break above EMA(9) (~$3,700), it could just be a โdead cat bounceโ (fake rally).
If the downtrend resumes, support to watch is around $3,560, with a potential drop towards $3,500 or $3,450 if selling continues.
๐ก Trading Scenarios:
For Short-Term Traders (4hโ1D):
Long setup only if price stabilizes above $3,660โ$3,700, with a tight stop-loss below $3,560.
Short setup if the price retests EMA(9) and gets rejected โ potential target: lower lows.
For Swing or Mid-Term Traders:
Wait for MACD convergence and a break above EMA(9) and EMA(21).
Safer entry if the price forms a base and turns bullish above ~$3,750.
๐ Summary:
Signal Status
Trend ๐ Bearish
Momentum ๐ด Negative
RSI (Stoch) โ ๏ธ Oversold
Setup ๐ก Possible short-term bounce, but trend still down
