$DAM
Chart Analysis (1H Timeframe)
check this details ๐ fully m proper ๐๐๐
1. Trend:
There has been a heavy downtrend in the last few candles (continuous drop from 0.14 โ 0.068).
Currently, the price is trying to hold at a support zone (0.064 โ 0.068).
2. Indicators / Signals:
RSI (the lower oscillator) is trying to bounce slightly above the oversold zone โ this means that a short-term relief bounce may occur.
The price is below the EMA (blue line) โ the trend is still bearish, but there is a chance for a small bounce.
3. Liquidity & Levels:
Major liquidity below is in the 0.061 โ 0.064 zone. (If this breaks, further dumps are possible).
Resistance levels above are:
0.0815 (first TP zone)
0.0998 (strong resistance)
0.1188 (major resistance if a big move occurs)
๐ Trade Setup (Long Setup Possible)
โ If you want to play the bounce, you can look at these levels:
Entry: 0.068 โ 0.069 (accumulation possible around the current price)
Stop Loss (SL): 0.0612 (safe SL below the recent swing low)
Target 1 (TP1): 0.0815
Target 2 (TP2): 0.0998
Target 3 (TP3): 0.1188 (if a big reversal occurs)
Risk Reward Ratio (RRR):
It is approximately 1:2.5 to 1:3 (which is good).
โ ๏ธ Important points to note
This is just a short-term bounce play, as the overall trend is still bearish.
If there is a dump in BTC or the entire market, this setup may also fail.