- Trend and Structure:- The price shows higher lows and higher highs, signaling a short-term uptrend.- There was a sharp drop to the 3,520 $ zone (on the 10th), followed by a recovery to
4,040 $.- Currently, the price is in a sideways consolidation between 3,880 $ and 3,960 $.
- Key Supports and Resistances:- Supports:- 3,880 $: Immediate support, tested multiple times.- 3,840 $: A secondary support level for deeper pullbacks.- 3,720 $ - 3,760 $: A strong support zone from previous buying interest.- Resistances:- 3,960 $ - 3,980 $: Immediate resistance.- 4,040 $: Next upside target within the current trend.- 4,120 $: A significant resistance where strong profit-taking could occur.
- Potential Entry Zones:
Long Entries:
- 3,880 $: If this support holds, a long position with a tight Stop Loss (SL) at 3,850 $ and a
Take Profit (TP) at 3,980 $ is ideal.- Probability: 65% for a short-term move up.
- 3,840 $: If the price dips to this level, it offers a deeper entry opportunity, provided bullish
candlestick patterns (e.g., Hammer or Engulfing) appear.
Short Entries:
- 3,960 $: A rejection at this resistance offers a short opportunity with SL at 3,990 $ and TP
at 3,880 $.- Probability: 60% for a short-term pullback.
- Indicators and Candlestick Patterns:- Volume: Increasing volume recently supports the upward move.- Candlestick Patterns:- A Doji candle near 3,960 $ signals indecision, suggesting a possible pullback.- A bullish engulfing near 3,880 $ supports the long scenario.- RSI: The Relative Strength Index (RSI) shows neutrality around the 50 level, confirming the
sideways trend.
- Elliott Wave Theory:
The current movement appears to be in a corrective wave (Wave B):- A breakout above 3,960 $ could trigger the next impulse wave C toward 4,040 $ or
higher.- If 3,880 $ fails, the correction could deepen to the 3,720 $ zone.
- Strategy & Key Scenarios:
| Scenario | Entry | SL | TP | Probability (%) |
|----------------------|------------------|--------------|-------------|---------------------|
| Long at 3,880 $ | 3,880 $ | 3,850 $ | 3,980 $ | 65% |
| Long at 3,840 $ | 3,840 $ | 3,800 $ | 3,960 $ | 70% |
| Short at 3,960 $ | 3,960 $ | 3,990 $ | 3,880 $ | 60% |
Summary:- Price is consolidating between 3,880 $ and 3,960 $.- Long entries are favorable at 3,880 $ and 3,840 $.- A breakout above 3,960 $ could push the price toward 4,040 $.- Short opportunities arise if 3,960 $ is rejected.
Disclaimer
The analysis provided above is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency and other financial markets are highly volatile, and past performance is not indicative of future results. Any trading or investment decisions you make are solely your responsibility.
You should conduct your own research and, if necessary, consult with a professional financial advisor before making any investment or trading decisions. Trading with leverage and derivatives carries additional risk, including the potential for total loss of capital. We assume no liability for any losses or damages arising directly or indirectly from the use of the information provided.
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