1. Current situation
- Last price: 354.98 USDT (-3.39%).
- Mark price: 354.98 USDT (matches the last price).
- 24-hour range: 352.25 (minimum) – 370.83 (maximum).
- Trading volume: 234,820.254 BCH (84.73 million USDT). High volume indicates market activity.
2. Key levels
- Support: 352.25 (minimum for 24 hours), 332.70, 302.58.
- Resistance: 362.81, 370.83 (maximum for 24 hours), 382.93.
- The current price is close to the lower boundary of the daily range, which may indicate a possible bounce.
3. Indicators
- MACD:
- DIF (11.31) below DEA (11.41), MACD (-0.10) — weak bearish signal.
- RSI(6): 45.91 (neutral zone, closer to oversold).
- Conclusion: No clear bias towards buying or selling, but the RSI indicates a possible bounce.
4. Trading plan
- Scenario 1 (Bounce from support):
- Long entry: Upon confirming a bounce from 352.25 (for example, an increase in volume or formation of a bullish candlestick pattern).
- Take-profit: 362.81 (first resistance), 370.83 (second resistance).
- Stop-loss: Below 352.25 (for example, 348.00).
- Scenario 2 (Break of support):
- Short entry: Upon breaking 352.25 with increased volume.
- Take-profit: 332.70 (next support level).
- Stop-loss: Above 355.00 (for example, 358.00).
5. Additional indications
- Risk management: Do not risk more than 1-2% of capital on a trade.
- Time: Monitor the closing of hourly/4-hour candles for confirmation of signals.
6. Conclusion
The market is in a neutral zone with a slight bearish bias. Main opportunities are a bounce from support or a breakout with a continuation of the downward trend. It is important to wait for confirmation of signals and maintain discipline.
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