Chart Summary (1h timeframe -$BTC
/USDT):
Current Price: ~$80,375
Price dropped from a high of ~$84,336 to a low of ~$79,939 (24h range).
RSI(6): 31.50 (Oversold zone approaching)
MA(7): $80,538 (above current price)
MA(25): $82,427
MA(99): $81,717
Bearish momentum with some early signs of a base forming (a few green candles at the bottom).
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Expert Trade Plan:
Trade Type: Short-term scalp (1-2 hours)
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Scenario 1: Bounce Play (Counter-trend, Risky but High Reward)
Strategy: Buy near support
Entry: $80,100–$80,300
Stop-Loss: $79,880 (below the 24h low of $79,939)
Target 1: $80,720 (near MA(7))
Target 2: $81,300 (if momentum builds)
Rationale:
RSI near oversold (likely a bounce).
Price holding just above key psychological support ($80K).
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Scenario 2: Trend Continuation (Safer Play)
Strategy: Wait for a break and retest
Trigger: If price breaks below $79,900 and retests it from below.
Entry: $79,850–$79,900 after failed bounce.
Stop-Loss: $80,250
Target 1: $79,400
Target 2: $78,800
Rationale:
Continuation of the downtrend.
Low volume on green candles hints weak buying.
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Extra Tips:
Position sizing: Risk only 1–2% of your capital.
Monitor volume: A spike in volume on a green candle = confirmation for bounce.
News check: Always verify no major news is causing volatility.
