Crypto Futures Technical Analysis (EPIC/USDT - 15m Chart)
1. Trend Direction:
The price is forming a descending triangle, indicated by the downward-sloping yellow trendline.
The trend is bearish, with lower highs being formed, suggesting strong selling pressure.
2. Key Support & Resistance Levels:
Support: Around $1.652 - $1.683 (highlighted in purple), where price recently bounced.
Resistance: At $1.819 - $1.85, near the descending trendline.
3. Potential Breakout or Reversal Points:
If the price breaks below the $1.652 support level with strong volume, a further drop is likely.**
If the price bounces and breaks above $1.819, it could confirm a bullish breakout.
4. Entry & Exit Points:
Long Entry: If price bounces off $1.652 - $1.683 with bullish confirmation.
Take Profit (TP): Near $1.819 - $1.85.
Stop Loss (SL): Below $1.652 (around $1.630).
Short Entry: If price fails to break $1.819 and rejects the descending trendline.
TP: Near $1.652 or lower.
SL: Above $1.85.
5. Risk-Reward Assessment:
The chart shows a risk-reward ratio greater than 1:2, making the long trade attractive if price holds support.
Watch volume spikes for confirmation—high volume on a breakout confirms strength.
Final Thoughts:
Bullish scenario: A break and close above $1.819 could trigger an uptrend.
Bearish scenario: A breakdown below $1.652 could push the price lower.
Monitor for candlestick confirmation (e.g., bullish engulfing, doji, or hammer at support).
Would you like a more detailed breakdown or strategy suggestions? 🚀
1. Trend Direction:
The price is forming a descending triangle, indicated by the downward-sloping yellow trendline.
The trend is bearish, with lower highs being formed, suggesting strong selling pressure.
2. Key Support & Resistance Levels:
Support: Around $1.652 - $1.683 (highlighted in purple), where price recently bounced.
Resistance: At $1.819 - $1.85, near the descending trendline.
3. Potential Breakout or Reversal Points:
If the price breaks below the $1.652 support level with strong volume, a further drop is likely.**
If the price bounces and breaks above $1.819, it could confirm a bullish breakout.
4. Entry & Exit Points:
Long Entry: If price bounces off $1.652 - $1.683 with bullish confirmation.
Take Profit (TP): Near $1.819 - $1.85.
Stop Loss (SL): Below $1.652 (around $1.630).
Short Entry: If price fails to break $1.819 and rejects the descending trendline.
TP: Near $1.652 or lower.
SL: Above $1.85.
5. Risk-Reward Assessment:
The chart shows a risk-reward ratio greater than 1:2, making the long trade attractive if price holds support.
Watch volume spikes for confirmation—high volume on a breakout confirms strength.
Final Thoughts:
Bullish scenario: A break and close above $1.819 could trigger an uptrend.
Bearish scenario: A breakdown below $1.652 could push the price lower.
Monitor for candlestick confirmation (e.g., bullish engulfing, doji, or hammer at support).
Would you like a more detailed breakdown or strategy suggestions? 🚀
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.