Support levels:
First support (near): $78,256 - $78,318 (represents the lower Bollinger Band (LB) on a 15-minute and 4-hour chart).
Strong support: $77,618 (the last recorded low on a 15-minute and 1-hour chart).
Main support: $76,203 (the low recorded on a 4-hour chart).
Resistance levels:
First resistance: $78,576 - $78,608 (the middle line of the Bollinger Bands BOLL and the moving averages MA/EMA).
Second resistance: $78,900 - $79,269 (the upper limit of the Bollinger band UP on the hourly timeframe).
Strong resistance: $80,462 - $82,256 (the last highs and the upper Bollinger limit on the 4-hour timeframe).
Analysis of indicators and timeframes
15-minute / 1-minute timeframe:StochRSI: reached overbought/overbought areas (around 79-85) on the 1-minute timeframe, while it began moving upward in a rebound from the bottom on the 15-minute timeframe.
Candles: a long lower tail appeared at the $77,618 bottom, reflecting the presence of buying strength that absorbs the decline.
Hourly timeframe (1H):MACD: still below the zero line (a slight negative crossover), but negative momentum has started to weaken.
StochRSI: in a neutral/medium zone (around 63-73), which allows room for movement in both directions.
4-hour timeframe (4H):General trend: corrective downward movement after the top recorded at $82,256.
StochRSI: Reached very strong oversold zones (13.4)، which is usually an area preceding bullish rebounds (Bounce).
Summary of the expected move—Trading scenario
The bullish scenario (more likely short-term): Holding above the level of $78,300 opens the door for a rebound toward 78,900 then $79,250.
The bearish scenario: A break of the level of $77,600 with a clear closing candle opens the way to test the level of $76,200
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