Current Situation
Price: 68,488 USDT
Daily change: -1.91% (down 1,334 USDT)
Trend: Short-term bearish, with a recent sharp drop from ~70.5K to 68.5K.
Candlestick pattern: Multiple red candles indicate selling pressure, small wicks at the bottom suggest some buyers are stepping in around 68K.
Key Levels
Support Levels
68K → psychological and recent low; buyers show interest here.
67K–67.5K → next stronger support if 68K breaks.
Resistance Levels
69.5K → previous swing low turned resistance.
70K → round number, key short-term resistance.
Trading Strategy (Short-Term / Day Trading)
Option 1: Long (buy) near support
Entry: 68,000 – 68,200
Stop Loss: 67,500 (below support zone to avoid getting stopped out by minor dips)
Target: 69,500 – 70,000 (resistance zone)
Reasoning: Bounce from support is likely, but trend is slightly bearish, so keep risk low.
Option 2: Short (sell) near resistance
Entry: 69,500 – 69,700
Stop Loss: 70,200 (above resistance, invalidates short setup)
Target: 68,200 – 68,000
Reasoning: Price failed to sustain above 70K earlier; sellers could push it down again.