$OPEN The daily chart still looks bearish. Price is trading around 0.1583, very close to the recent low of 0.1569, which is acting as an important support level. The price is also below the 7, 25, and 99-day moving averages, showing that sellers are currently in control.
If 0.1569 holds, we could see a short-term relief bounce. However, if this support breaks, the price may continue moving lower before finding stronger demand.
🛑 Stop-Loss: 0.1540
Keeping your stop-loss just below the recent support helps limit risk if the bearish trend continues.
Trade Tip: Wait for a strong bullish candle or a move back above the short-term moving averages before becoming more aggressive. Until then, manage your position carefully and avoid overleveraging.#OPEN #BTC
If 0.1569 holds, we could see a short-term relief bounce. However, if this support breaks, the price may continue moving lower before finding stronger demand.
🛑 Stop-Loss: 0.1540
Keeping your stop-loss just below the recent support helps limit risk if the bearish trend continues.
Trade Tip: Wait for a strong bullish candle or a move back above the short-term moving averages before becoming more aggressive. Until then, manage your position carefully and avoid overleveraging.#OPEN #BTC