Simple analysis based on the chart (4-hour timeframe) but be careful: this is not a binding financial advice, just a professional trading scenario.
Current price: ~689$
Trend: Correction after a strong rally.
The price broke the resistance at $745 and has started a gradual decline.
Currently hovering around the Middle Bollinger Band.
RSI is around ~40 โ close to the support zone (not fully oversold).
๐ฏ Entry and exit scenarios.
๐ข Scenario one (buying from support โ best option)
Entry zone: 670 โ 650$
Reason: support area + close to the lower Bollinger band
Stop loss: 630$
Targets:
๐ฏ Target 1: 705$
๐ฏ Target 2: 730$
๐ฏ Target 3: 750$
๐ This scenario is the safest (buying the dip)
๐ต Scenario two (breakout)
Entry: after closing a 4-hour candlestick above 705$
Stop loss: 680$
Targets:
๐ฏ 730$
๐ฏ 760$
๐ Suitable if bullish momentum returns
๐ด Negative scenario (breaking support)
If it breaks 650$ strongly
Expecting:
630$
Then 600$
โ Here it's best to wait and not enter
โ ๏ธ Important notes
Short-term trend: corrective
Overall trend: still bullish
Average trading volume โ market is waiting for a decision
๐ก Professional summary
> Best trade currently:
โ๏ธ Gradual buy from 670โ650
โ๏ธ Or wait for confirmation of breakout at 705
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