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.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.