

The chart exhibits a marked shift in trend, transitioning from a prolonged uptrend to a recent downtrend.
The bearish sentiment is evident with increased selling pressure observed through key technical indicators.
There appear to be several notable patterns, including a potential bearish engulfing pattern visible before the recent downtrend. This indicates a potential reversal after an uptrend.
The chart shows a recent downtrend following a long uptrend, shifting the sentiment from bullish to bearish.
The price around 23,000 acts as a recent support zone. A clear break below this could signal further downside.
The MACD line is below the Signal line, indicating bearish momentum. This crossover suggests continuing downward pressure.
The histogram is negative, reinforcing the bearish sentiment with increasing momentum to the downside.
No clear divergence is visible between MACD and price action, supporting the ongoing trend.
There is an increase in volume during down moves, indicating strong selling interest.
Higher volume on recent down days supports the price movement, validating the bearish trend.
The spike in volume may suggest institutional selling, confirming the bearish move.
The price around 23,000 is acting as a key support level.
Recent highs near 24,000 serve as strong resistance.
A break below 23,000 could lead to more selling, while holding above supports potential stabilization.
Consider shorting if the price breaks below the 23,000 support with confirmation.
If holding, watch for signs of stabilization or bullish reversal patterns before adding more.
Confirmation signals include sustained trading below 23,000 or a bullish reversal pattern like a hammer.



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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.