General Analysis:
The overall trend on the 1H timeframe is clearly bearish, confirmed by the majority of technical indicators (MACD, Stochastic, Vortex, RSI, PSAR, and DMI all bearish).
A few bullish touches from Momentum and MFI, but these are weak signals in the current context.
Current price is at 597.41 USDT, below the equilibrium level of the last swing movement (604.565 USDT), showing that sellers remain in control.
ADX is low, suggesting limited trend strength, but the momentum is still oriented downward.
Critical Levels:
Low of the last swing: 587.14 USDT (critical demand/support just below current price)
Additional support zones: 576.00 USDT, then 570.06 USDT, and finally 564.00 USDT if selling pressure continues.
Next resistances: 600.60 USDT (just above), then 604.53 USDT (inefficiency zone to watch), and higher at 616.64 USDT.
Imbalance FVG zones around 600.60 USDT and just below 604.53 USDT, which could serve as turning points or acceleration areas if price revisits them.
Key manipulation level: If price breaks below 587.14 USDT and then quickly reclaims the level, watch for a potential trap of sellers.
Trading Opportunities & Confirmations:
Sell scenario (continuation): If price retraces toward 600.60 USDT or 604.53 USDT and forms an upper wick (pin bar), bearish engulfing, or reversal signal on lower timeframes, this could be a selling opportunity with targets at the 587.14 USDT zone, then 576.00 USDT.
Buy scenario (manipulation/sweep): If price decisively breaks below 587.14 USDT, then quickly rebounds (significant lower wick, strong green engulfing candle, double bottom reversal structure on 5/15min), a buy can be attempted with targets back to 600.60 USDT, then 604.53 USDT.
Always wait for confirmation: Look for a clear wick or reversal structure, or bullish momentum signal on lower timeframes before entering.
Stop-loss should be placed below the last low for a buy, or above the last swing high for a sell.
My Expectation:
I expect price to retest the 587.14 USDT zone again. If we see a strong reaction (lower wick or buying impulse), a rebound toward 600.60 USDT could occur.
Conversely, if the 587.14 USDT support breaks decisively, the move could accelerate toward 576.00 USDT or 570.06 USDT.
For a continuation short trade: Ideal entry on rejection at 600.60/604.53 USDT with clear reversal confirmation, TP1 at 587.14 USDT, TP2 at 576.00 USDT.
For a long rebound trade after manipulation: Wait for a sweep below 587.14 USDT and quick reclaim above, with a clear reversal signal on lower timeframes, then enter. TP1 at 600.60 USDT, TP2 at 604.53 USDT.
My bias remains bearish as long as price stays below 600.60 USDT. A close back above 604.53 USDT on the H1 would shift the short-term dynamic to bullish.
Note:
This is not investment advice, but an educational report. Carefully analyze price reactions at the mentioned levels and always wait for clear confirmation before any entry. Good luck!