The recent sweep below the 0.001646 support level by 0.91% successfully triggered liquidity, keeping the broader uptrend intact. Momentum is currently testing traders to see if a genuine reversal follows this shakeout.
• Key Support / Demand: 0.001646 and the 0.001600 psychological zone • Resistance / Supply Targets: 0.001850 and 0.002000 • Trigger / Confirmation: A strong 4-hour candle close back above the immediate local resistance with expanding volume • Risk / Invalidation: A sustained break and daily close below 0.001580 • Market Execution: Monitor order book depth carefully as volatility persists across spot and derivatives markets
Always practice strict risk management. Wait for confirmation before entering positions.
Volume has spiked 4.8x while the 15-minute timeframe shows a 3.9% drop, signaling a potential volatility trap and liquidity sweep near local ranges. Traders need to watch order book depth closely for signs of exhaustion.
• Key Support / Demand: Crucial local floor holding the current consolidation base • Resistance / Supply Targets: Immediate overhead liquidity clusters where sellers step in • Trigger / Confirmation: High-volume reversal candle or strong reclaim of short-term moving averages • Risk / Invalidation: Clean local support with expanding sell volume • Market Execution: Monitor order flow dynamics and standard market depth carefully