Based on the 4-hour chart of WCT/USDT from Binance, here's a technical trade setup:
Current Price: 0.6394
Indicators Overview:
MA(7): 0.6547 (short-term bearish as price is below MA7)
MA(25): 0.6307 (price slightly above MA25, showing some support)
MA(99): 0.5586 (strong long-term support)
Momentum Indicators:
Stochastic RSI: 19.17 (oversold zone)
MA Stoch RSI: 36.13 (still low, could signal rebound)
RSI (6): 43.36 (weak momentum, but not oversold yet)
Support & Resistance:
Support: 0.6307 (MA25) and 0.5658 (recent low)
Resistance: 0.6547 (MA7) and 0.6775 (24h High)
Trade Setup:
1. Bullish Reversal Setup (Short-Term Buy):
Entry: Around 0.630–0.640 (current price zone)
Target: 0.654–0.677 (resistance levels)
Stop Loss: Below 0.625 (to avoid whipsaw from support breakdown)
Rationale:
Stoch RSI is oversold, possible upward reversal.
Price holding above MA25 could provide bounce support.
Candlestick structure suggests sideways accumulation.
2. Bearish Breakdown Setup (Short-Term Sell if support breaks):
Entry: Below 0.625 (after clear break and retest)
Target: 0.598 or 0.565
Stop Loss: 0.640
Rationale:
Breakdown below MA25 support.
Weak RSI momentum and lower highs forming.
Suggestion:
Wait for a confirmation:
Bullish: Green candle above 0.645 with increasing volume.
Bearish: Red candle closing below 0.630 with strong volume.
