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1. Price Action Overview
• Current Price: $88,186.97
• Recent High: $88,877.00
• Recent Low: $74,508.00
• Trend: Price has bounced strongly from $74,508 forming a cup-like recovery, now testing a key resistance near $88,800.
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2. Support and Resistance Levels
• Immediate Resistance:
• $88,877 (local top – selling pressure likely here)
• $90,809 (MA(99))
• $91,635 – $96,096 (historical resistances)
• Immediate Support:
• $85,630 (MA(7))
• $83,286 (MA(25))
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3. Moving Averages
• MA(7) = $85,630 — Short-term trend is bullish above this.
• MA(25) = $83,286 and MA(50) = $84,124 — Crossing above both indicates strength.
• MA(200) = $88,366 — Currently testing this key long-term resistance.
• MA(99) = $90,809 — Another major resistance coming up.
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4. Indicators Analysis
MACD
• MACD Line (orange): 704.21
• Signal Line (purple): -44.37
• Histogram: Strongly positive
Interpretation: Bullish crossover occurred earlier, and momentum is strong.
RSI
• RSI(8) = 68.52
• RSI(13) = 60.44
• RSI(21) = 54.89
Interpretation: Approaching overbought territory but not extreme — bullish bias.
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5. Volume
• Strong green volume bars recently — confirming the bullish move.
• Volume increasing with price = Healthy rally confirmation.
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6. Chart Pattern
• Cup-like bottom from $74,508 — likely forming a “cup and handle” or rounded bottom, a bullish continuation pattern.
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7. Buy/Sell Signal Summary
Signal Type Trigger Action
Buy Price breakout above $88,900 with volume Entry for breakout trade
Buy Retracement to MA(25) or MA(50) ($83,286–$84,124) Dip buy opportunity
Sell / Caution Rejection near $88,877–$90,809 Partial profit booking or short-term short setup
Sell RSI crosses above 75–80 range Overbought caution zone
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Conclusion
• Bias: Bullish, with caution near $88,900–$90,800 resistance.
• Next Move: Watch for a breakout or rejection at current levels.
• Strategy:
• Aggressive Entry: Small long if daily candle closes above $88,900 with volume.
• Conservative Entry: Wait for pullback to $83K–$85K zone and bullish confirmation.