Historical severely oversold area.
Welcome to the MAX PAIN (looking at the greed&Fear at 11 today)
At this max fear stage it’s hard for the herd to see wood for the trees and things also the perfect phase to pickup a contrarian play.
👇
🔹 **Trade Direction:** Long (Potential Reversal)
🔹 **Entry:** $170 - $173 (Current Zone)
🔹 **Stop Loss:** $165 (below recent support)
🔹 **Target 1:** $182 (key resistance level)
🔹 **Target 2:** $192.50 (prior swing high)
📊 **Probability & Justification:**
- **Momentum Shift:** Oversold conditions with multiple strong buy signals across timeframes.
- **Indicators:** Stochastic RSI deeply oversold, with RSI on daily at 27.16—historically near bounce zones.
- **Moving Averages:** Price trading below key moving averages but stabilizing.
- **Volume Profile:** Signs of potential accumulation; need confirmation.
⚠️ **Risk Considerations:**
- A breakdown below $165 invalidates the setup.
- Bearish sentiment still dominant; a confirmed higher low is needed.
- Strong resistance ahead at $182; partial profit-taking recommended.
📉 **Bias:** Cautiously bullish—confirmation required for trend shift.
Welcome to the MAX PAIN (looking at the greed&Fear at 11 today)
At this max fear stage it’s hard for the herd to see wood for the trees and things also the perfect phase to pickup a contrarian play.
👇
🔹 **Trade Direction:** Long (Potential Reversal)
🔹 **Entry:** $170 - $173 (Current Zone)
🔹 **Stop Loss:** $165 (below recent support)
🔹 **Target 1:** $182 (key resistance level)
🔹 **Target 2:** $192.50 (prior swing high)
📊 **Probability & Justification:**
- **Momentum Shift:** Oversold conditions with multiple strong buy signals across timeframes.
- **Indicators:** Stochastic RSI deeply oversold, with RSI on daily at 27.16—historically near bounce zones.
- **Moving Averages:** Price trading below key moving averages but stabilizing.
- **Volume Profile:** Signs of potential accumulation; need confirmation.
⚠️ **Risk Considerations:**
- A breakdown below $165 invalidates the setup.
- Bearish sentiment still dominant; a confirmed higher low is needed.
- Strong resistance ahead at $182; partial profit-taking recommended.
📉 **Bias:** Cautiously bullish—confirmation required for trend shift.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.