#MarketRebound $BB
๐ฅ Here's an analysis of the BBUSDT perpetual contract chart (1H timeframe):
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Key Observations:
Price Action:
Current Price: $0.15916
24H High/Low: $0.16104 / $0.14700
The price recently bounced from the $0.14700 level, forming a local bottom.
There's a short-term uptrend forming after this bounce, but the trend is still within a broader downtrend.
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Support and Resistance Levels:
Support:
1. $0.14700 โ Recent swing low and the lowest point in the last 24 hours. Strong support zone.
2. $0.15300 โ Minor support formed from a brief consolidation range during the downtrend.
Resistance:
1. $0.16100 - $0.16150 โ Previous high and EMA(99) area. Strong near-term resistance.
2. $0.16400 - $0.16450 โ EMA(99) level, which is acting as dynamic resistance.
Moving Averages (EMA):
EMA(7): $0.15767 (yellow)
EMA(25): $0.15593 (pink)
EMA(99): $0.16403 (purple)
Price is currently above EMA(7) and EMA(25), indicating a short-term bullish momentum. However, the EMA(99) is still trending downward, suggesting longer-term bearish pressure remains.
Future Trade Setup Suggestions:
Bullish Scenario (Aggressive Play):
Entry: On break and 1H candle close above $0.16150
Target 1: $0.16400 (EMA99)
Target 2: $0.16850
Stop Loss: Below $0.15700 (under recent short-term higher low)
Summary:
Short-Term Bias: Mildly bullish (price recovering with short-term EMAs curling up)
Mid to Long-Term Bias: Bearish unless price breaks above EMA(99) and holds.
Watch price action closely near $0.16100โ$0.16400 for confirmation of trend direction.
