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It appears that Moodng has formed a significant and important bottom, indicating a potential trend reversal or accumulation phase. Recently, the price moved below a long lower shadow (wick), showing strong selling pressure, but it immediately rebounded upward. This reaction suggests that buyers are actively defending this area and that demand is present at lower price levels.
At this stage, the main Change of Character (CH) has not yet been fully formed, and the price has not confirmed stability or consolidation above the key support zone. This means that the market is still in a sensitive phase and may experience further volatility before establishing a clear bullish structure.
However, if the price revisits lower levels, it can provide a good opportunity for traders to enter at more favorable prices. In such scenarios, it is essential to strictly respect the invalidation level, as proper risk management remains a priority. Since the asset is currently trading in a relatively cheap zone and the long lower wick has been filled, the risk-to-reward ratio appears attractive for potential long positions.
For more conservative and risk-averse traders, it is recommended to wait for clear confirmation. This includes strong consolidation above the key level and the formation of a valid CH. Entering after confirmation may reduce risk and increase the probability of success, even if it means missing part of the initial move.
All target levels are clearly marked on the chart and should be followed according to your trading plan. These targets are based on technical structure, key resistance zones, and potential liquidity areas.
It is important to note that a daily candle close below the invalidation level will invalidate this bullish scenario and cancel the current analysis. In that case, traders should reassess market conditions and avoid holding long positions.
As always, traders are advised to combine this analysis with their own strategies, proper risk management, and market context before making any trading decisions.
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If the price continues to respect the support zone and confirms bullish momentum, we may see a strong upside move toward higher liquidity levels and major resistance zones.
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