$BIFI
$BIFI Technical Analysis: Reaching Key Support Levels! 📉
BIFI/USDT (1-Hour Chart) Analysis:
The market is currently showing a strong bearish correction, with BIFI down nearly 9% in the last 24 hours. Here is what the indicators are telling us:
Price Movement: BIFI is currently trading at $214.7, testing the lower boundary of the Bollinger Bands.
MACD: The MACD histogram is staying red, and the signal lines are trending downward, suggesting that the selling pressure is still active.
RSI: The RSI is currently around 38, moving towards the oversold zone. This indicates that while the momentum is weak, a relief bounce could be coming soon.
Support & Resistance: * Support: Immediate support is at $212.1, with a major floor at the 24h low of $208.4.
Resistance: To regain bullish momentum, BIFI needs to break above the middle band at $225.2.
Trading Strategy:
Avoid FOMO (Fear Of Missing Out) entry right now. It is safer to wait for the price to stabilize around the $208-$210 support zone. Keep a close eye on the volume; a spike at these levels could signal a trend reversal.
Note: Always manage your risk and use Stop-Loss. Not financial advice. #DYOR
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