The Daily chart is showing signs of bearish exhaustion, setting the stage for a potential bullish reversal from a key consolidation zone. After a prolonged downtrend, the price has stabilized and is building a base above the 0.003840 support level. This sideways price action at the lower Bollinger Band suggests a period of accumulation is underway.
The trigger for a high-probability long entry is now forming on the lower timeframes. We are looking for the 1H RSI to decisively cross above the 50 level, which would confirm a shift in momentum from bearish to bullish control. A price reclaim of the 1H EMA cloud would serve as further confirmation that buyers are stepping in. Entering now is logical as we are positioned near the bottom of the established range, offering a favorable risk-to-reward ratio. The fading bearish momentum on the MACD indicator supports the thesis that sellers are losing strength, increasing the likelihood of an upward bounce towards range resistance.
Actionable Setup Now (LONG)
Entry: market at 0.003930
TP1: 0.004450
TP2: 0.005000
TP3: 0.005800
SL: 0.003790
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