๐ $BR USDT: Severe oversold โ donโt chase the drop!
The 4-hour chart for the coin $BR shows an aggressive bearish structure. After reaching the peak of 1.4017, the price began recording lower highs and lower lows, leading to a sharp breakdown of supports.
๐ Quick technical view:
โข The price is clearly trading below all major moving averages, confirming strong bearish control.
โข The Relative Strength Index is at 14.00, indicating severe oversold conditions.
โข The recent breakout below 0.6000 occurred behind a block of sell orders around the 0.6700 โ 0.6900 zone.
โ ๏ธ Trading strategy (sell on retest):
Avoid selling at the current price (0.5436) while the RSI is in the oversold zone. A bullish corrective bounce is very likely. The best possible trade is to wait for the price to return and test the broken resistance around 0.6000 โ 0.6200, then sell from there.
๐ฏ Trading plan ($BR ):
๐ด Direction: Sell (on retest)
๐ฅ Entry zone: 0.6000 โ 0.6200
๐ Stop loss: 0.6700 (above the previous high / order block)
โ Target 1: 0.5260 (lowest price in the last 24 hours)
โ Target 2: 0.5000 (psychological support)
๐ Confirmation: wait for a clear rejection tail or a strong bearish candle in the entry zone.
โ Trade invalidation: a 4-hour candle closes above 0.6700.
Protect your capital. Let the market come to you. ๐ก๏ธ
The 4-hour chart for the coin $BR shows an aggressive bearish structure. After reaching the peak of 1.4017, the price began recording lower highs and lower lows, leading to a sharp breakdown of supports.
๐ Quick technical view:
โข The price is clearly trading below all major moving averages, confirming strong bearish control.
โข The Relative Strength Index is at 14.00, indicating severe oversold conditions.
โข The recent breakout below 0.6000 occurred behind a block of sell orders around the 0.6700 โ 0.6900 zone.
โ ๏ธ Trading strategy (sell on retest):
Avoid selling at the current price (0.5436) while the RSI is in the oversold zone. A bullish corrective bounce is very likely. The best possible trade is to wait for the price to return and test the broken resistance around 0.6000 โ 0.6200, then sell from there.
๐ฏ Trading plan ($BR ):
๐ด Direction: Sell (on retest)
๐ฅ Entry zone: 0.6000 โ 0.6200
๐ Stop loss: 0.6700 (above the previous high / order block)
โ Target 1: 0.5260 (lowest price in the last 24 hours)
โ Target 2: 0.5000 (psychological support)
๐ Confirmation: wait for a clear rejection tail or a strong bearish candle in the entry zone.
โ Trade invalidation: a 4-hour candle closes above 0.6700.
Protect your capital. Let the market come to you. ๐ก๏ธ
