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Right now, the trend remains bearish, but price is approaching a significant support and demand area. I expect either a sharp bounce from around 0.3382–0.3462, or a further drop toward 0.2500 and possibly 0.1902 if this support breaks without a reversal signal.
- For a bullish reversal, wait for a strong wick or reversal candle after a potential liquidity sweep below 0.3382. Enter on confirmation, targeting 0.3786 first, then 0.4432. If you see a bullish engulfing on the 8h or a reversal on the 2h, that's your green light.
- If you prefer to short, wait for a weak bounce into the 0.3786–0.4432 zone and confirmation of rejection—like a lower high or bearish engulfing. Target a return to current lows and lower.
- If price breaks above 0.4432 and holds, my bias flips to bullish for a move toward 0.4731 and possibly 0.6000.
- If price breaks and holds below 0.3382, expect further downside and look for long entries much lower, toward 0.2500–0.1902.