Trade Bias Verification: Long (with caution for short-term bearish momentum)
Confidence Score: 6.5 out of 10 (slightly reduced due to bearish MACD crossover and RSI divergence)
Hypothesis Refinement:
The bullish continuation hypothesis still holds, but the MACD bearish crossover and RSI divergence on the 1-hour chart signal a stronger short-term pullback or consolidation phase. The price is likely to test the demand zone near 92,000 - 92,934 before resuming the uptrend. Traders should wait for signs of momentum recovery (MACD crossover back up, RSI turning up from support) before entering.
Key Levels:
Entry: Near demand zone 92,000 - 92,934, ideally after MACD bullish crossover and RSI support confirmation.
Stop-Loss: Below demand zone and Ichimoku cloud, around 91,000.
Take-Profit: Near recent highs (94,000) and daily resistance (95,000 to 100,000).
Actionable Insight:
Avoid chasing the current pullback; wait for momentum indicators to confirm a reversal near the demand zone.
Use a momentum-based entry strategy on the 1-hour timeframe, entering once MACD crosses back above the signal line and RSI shows upward momentum.
Set alerts for price approaching the demand zone and for MACD/RSI bullish signals.
Maintain stop-loss discipline below the demand zone to protect against deeper corrections.
Monitor volume for increasing buying interest on the bounce to confirm strength.
Confidence Score: 6.5 out of 10 (slightly reduced due to bearish MACD crossover and RSI divergence)
Hypothesis Refinement:
The bullish continuation hypothesis still holds, but the MACD bearish crossover and RSI divergence on the 1-hour chart signal a stronger short-term pullback or consolidation phase. The price is likely to test the demand zone near 92,000 - 92,934 before resuming the uptrend. Traders should wait for signs of momentum recovery (MACD crossover back up, RSI turning up from support) before entering.
Key Levels:
Entry: Near demand zone 92,000 - 92,934, ideally after MACD bullish crossover and RSI support confirmation.
Stop-Loss: Below demand zone and Ichimoku cloud, around 91,000.
Take-Profit: Near recent highs (94,000) and daily resistance (95,000 to 100,000).
Actionable Insight:
Avoid chasing the current pullback; wait for momentum indicators to confirm a reversal near the demand zone.
Use a momentum-based entry strategy on the 1-hour timeframe, entering once MACD crosses back above the signal line and RSI shows upward momentum.
Set alerts for price approaching the demand zone and for MACD/RSI bullish signals.
Maintain stop-loss discipline below the demand zone to protect against deeper corrections.
Monitor volume for increasing buying interest on the bounce to confirm strength.
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.
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.