๐ #PROVEUSDT Chart Analysis (15min Timeframe)
๐ Price Action Summary:
Current Price: 0.9743 USDT
24h High: 1.1875
24h Low: 0.9531
Recent High (Chart): 1.0467
Recent Low (Chart): 0.9531
Price Change: -14.30%
๐ Key Observations:
1. Sharp Downtrend:
A large bearish candle broke below support near 1.00, followed by a quick drop to 0.9531, forming a temporary bottom.
2. Short-Term Consolidation:
After hitting the low, price is consolidating between 0.9531 - 0.9750, indicating possible accumulation or a pause before next move.
3. Volume Spike at Bottom:
High volume near the low suggests either panic selling or institutional buying. Price has slightly recovered since.
๐ก Trade Idea (Based on Price Action):
Bias: Short-Term Long (Scalp or Intraday)
Entry (Current Price): 0.9743
Stop Loss: Below support at 0.9480 (safe below wick low 0.9531)
Target 1: 1.00
Target 2: 1.02
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๐ Risk Reward Ratio (RRR):
RRR to Target 1 (1.00):
Risk: 0.9743 - 0.9480 = 0.0263
Reward: 1.00 - 0.9743 = 0.0257
RRR โ 1:1
RRR to Target 2 (1.02):
Reward: 1.02 - 0.9743 = 0.0457
RRR โ 1.7:1
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๐ง Pattern / Logic Behind Trade:
Reversal Zone: Price bounced after oversold condition near previous low.
Demand Zone: Buying interest at 0.9531 level.
Volume Surge: Indicates possible end of selloff.
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โ Probability of Profit:
Medium (50โ60%) โ This trade relies on a short-term reversal from a support zone. If BTC/overall market remains stable or bullish, probability increases.