Market Context 1. 4-Hour Chart: - The price has been in a downtrend recently, forming lower highs and lower lows. - Key support levels are visible near 43,710 and 43,350. - The RSI (Relative Strength Index) is heading towards the oversold zone, which could indicate potential buying interest soon.
2. 1-Hour Chart: - The trend remains bearish with clear downward momentum. - The price is respecting the moving averages, which are acting as dynamic resistance. - Short-term support zones align with those on the 4-hour chart.
3. 15-Minute Chart: - The price is still trending down but is closer to immediate support zones. The RSI is very close to being oversold, suggesting possible short-term bounce opportunities.
Recommendation - Sell if: - Price retraces to resistance levels and shows rejection (e.g., bearish candlestick patterns like pin bars or engulfing candles). - RSI is neutral or overbought.
- Buy cautiously if: - Price hits key support (e.g., 43,710 or lower) and shows clear signs of reversal, such as bullish divergence on RSI.
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