BANDUSDT Support and Resistance:
SL (Stop Loss): 1.272 (0.961 USDT) – A potential level to exit if the price moves against the trade.
DCA (Dollar-Cost Averaging): 1.135 (0.925 USDT) – A level for adding to the position if the price drops.
ENTRY 1 ( 0.890 - 0.880 USDT)
TP1 (Take Profit 1): 0.786 (0.834 USDT)
TP2: 0.618 (0.791 USDT)
TP3: 0.5 (0.760 USDT)
TP4: 0 (0.630 USDT) – These are potential profit-taking levels if the price moves downward.
The chart shows a recent downward trend with a sharp drop, followed by a potential reversal or consolidation near the Entry level.
Technical IndicatorsRSI (Relative Strength Index): The bottom panel shows the RSI, which is currently around 72.13. This indicates the asset is in overbought territory (above 70), suggesting a potential reversal or pullback might occur soon unless bullish momentum continues.
Trading StrategyThe chart outlines a bearish strategy with multiple take-profit levels (TP1 to TP4) below the current price, indicating an expectation of further decline.
The Entry at 0.890 - 0.880 USDT suggests a short position or a buy-the-dip opportunity depending on the trader’s intent.
The DCA level at 0.925 USDT allows for averaging down if the price retraces upward slightly.
The SL at 0.961 USDT provides a risk management level to limit losses.
ObservationsThe price action shows volatility with significant red (bearish) candles recently, aligning with the bearish TP targets.
The RSI being overbought could signal a short-term correction, which might test the SL or DCA levels before continuing downward.
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✅MY Free Signals Telegram
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youtube.com/@AltcoinPiooners
t.me/AltcoinPiooners
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t.me/Altcoin_Piooners
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youtube.com/@AltcoinPiooners
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.