🌞 Update market [4/12] [VIRTUAL]. 💵
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📉 Technical analysis & Momentum (H1 Frame):
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The setup on the VIRTUAL/USDT chart is a controlled "Catching a falling knife" opportunity due to converging technical signals:
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Deep Oversold: The Stoch RSI indicator is at 3.55 - 5.87. This low level often triggers automated trading bots to buy in to catch the bounce (Mean Reversion).
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Reaction price zone: The price is trading around 0.9510. Previously, this was a demand zone that pushed the price up. The bearish candle force is weakening, as shown by the small candle body and wick.
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Wave structure: After a strong sell-off from 1.00, the market needs a breath (rebound) to fill in liquidity gaps before deciding on the next trend.
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RECOMMENDED POSITION
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🤖 LONG ENTRY: 0.9450 - 0.9550 (Current support zone).
🛑 SL: 0.9100 (Stop loss if the price breaks below 0.917).
🚀 TP1: 0.9760 (Re-test the green Tenkan-sen line).
🚀 TP2: 1.000 (Psychological resistance zone at round number).
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This article only suggests market information, not an investment call! #DYOR #NFA $VIRTUAL
