🟢🟢$ORCA The battle between buyers and sellers has reached its peak; it's yours.👇👇🟢🟢
Strong bounce from support. Breakout or trap?
The situation is now a fierce battle for control. Buyers fiercely defended the demand zone at $1.03 and siphoned off the liquidity of the greedy sellers. The price is now at $1.11, the battleground.
Momentum is starting to weaken, and technical indicators are in a critical zone.
The price is just below the 7-period EMA ($1.134). This is the touchline. Sellers are positioned here to protect the decline from the $1.26 high. The RSI has bounced back to 60, meaning buyers still have momentum, but the StochRSI's stability suggests that the direct buying pressure is easing.
Who's winning this battle? The bulls want a daily close above $1.135. If they achieve this, the sellers who entered below will push for cover and raise the price to $1.18.
The bears want a break below $1.07. If we fall back, then this bounce was a "liquidity trap," and the target for the decline is $1.04.
Trading Plan
🔴 My personal opinion: Upward, provided the resistance is broken. Until that happens, I'm waiting for confirmation.
👉 Buy (Long) Trade:
I won't buy now. I'm waiting for confirmation of the breakout.
Entry: 15-minute candle closes above $1.135.
Entry Zone: $1.136 - $1.140
Stop Loss: $1.090 (below the support zone)
TP1: $1.180
TP2: $1.220
TP3: $1.260
❌ Cancel the trade:
If we break $1.07, the bullish pattern is invalidated. Here, we can look for a sell with a target of $1.04.
🟢🟢👇$VVV 👇👇Okay👇👇🟢🟢
🟢🟢👇👇$JELLYJELLY 👇👇Okay👇👇🟢🟢
In conclusion to my trading followers: The market is under pressure. I'm focused on the $1.135 level and monitoring it. Patience is key to profit.