1. Market Structure & Trend
• 1D: Price fluctuating within a range of $9.20 (support) to $9.75 (resistance). Daily structure shows a neutral stance with mild bullish momentum (+1.10%).
• 4H: Minor uptrend initiated from $9.20 low; encountering resistance near $9.60–$9.75.
• 1H: Price moving sideways after recent push up; potential for breakout or breakdown soon.
2. Key Levels
• Support: $9.20 (recent bottom), $9.02 (swing support).
• Resistance: $9.75 (recent high), $9.88 (short-term barrier).
3. Chart Patterns
• Early signs of a bull flag on 4H chart—valid if price remains above $9.32 (20-period moving average support).
4. Indicators
• RSI: Balanced around 50 on the 1D chart; no clear overbought/oversold signal.
• MACD: 4H shows early bullish momentum—histogram rising, but lines haven’t crossed yet.
• Volume: Dropping during sideways move—breakout will require spike in volume.
• Moving Averages: MA20 near $9.32 acts as dynamic support; MA200 (1D) still far above near $17.65—macro trend still bearish.
5. Trade Setup
• Entry Zones: Consider entries near $9.32–$9.42 (pullback) or above $9.75 with strong candle close and rising volume.
• Stop-Loss: Under $9.20 for a ~3–5% risk buffer.
• Target Levels: $9.88 (immediate target), $10.30 (next resistance zone).
• Risk-Reward Ratio: Minimum 1:2 (e.g., $9.40 entry aiming for $10.30 target).
6. Risk Controls
• Keep position size under 2% of trading capital. Move stop to breakeven if price reaches $9.65.
7. Watch for Reversals
• Red flag if price rejects hard at $9.75 or forms bearish engulfing near resistance.
• Bullish confirmation if price holds above $9.32 and prints a strong green candle on volume.
Conclusion: Long bias favored above $9.32 if volume supports move. Valid setup depends on whether price maintains 4H support or breaks $9.75 cleanly.
Note: Markets are volatile—adjust stops and
targets accordingly. Not financial advice.