Probability Analysis Based on Technical Indicators:
1. Bullish Scenario (Rebound towards $16 or higher):
MACD: Signs of bullish crossover → 60% probability of continued upward movement.
Stochastic: Exiting oversold territory → 70% probability of upward momentum.
Bollinger Bands: Rebound from the lower band and approaching the midline → 50% probability.
Weighted Average for Bullish Scenario: 60% probability of reaching the $16 resistance level.
2. Bearish Scenario (Breakdown below $14):
If the price fails to break above the Bollinger midline and the MACD crossover is not confirmed → 40% probability of dropping to lower levels ($12).
Summary:
Bullish Scenario Probability: 60%.
Bearish Scenario Probability: 40%.
1. Bullish Scenario (Rebound towards $16 or higher):
MACD: Signs of bullish crossover → 60% probability of continued upward movement.
Stochastic: Exiting oversold territory → 70% probability of upward momentum.
Bollinger Bands: Rebound from the lower band and approaching the midline → 50% probability.
Weighted Average for Bullish Scenario: 60% probability of reaching the $16 resistance level.
2. Bearish Scenario (Breakdown below $14):
If the price fails to break above the Bollinger midline and the MACD crossover is not confirmed → 40% probability of dropping to lower levels ($12).
Summary:
Bullish Scenario Probability: 60%.
Bearish Scenario Probability: 40%.
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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.