AI16Z/USDT 1H: Bearish Distribution – Wait for Reversal Bounce?!

AI16Z/USDT 1H: Bearish Distribution – Wait for Reversal Bounce at Support?
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Current Market Structure:

• Price at $0.3103 (-1.55%) in a bearish trend, showing consistent lower highs and lower lows.
  
• Overall market structure remains bearish.
  

Technical Indicators & Key Points:

• RSI: 31.57, indicating oversold conditions.
  
• Resistance: Strong at $0.42.
  
• Support: Established at $0.28 (weekly low).
  
• No clear divergences present.
  

Market Maker Activity:

• Clear distribution phase evident from recent sells.
  
• Heavy selling pressure from institutional players.
  
• Accumulation likely occurring near the $0.28-$0.29 zone.
  

Trade Setup (Confidence 8/10):

• Entry: Target the $0.31-$0.32 range.
  
• Targets:
  
• T1: $0.36 (previous support).
  
• T2: $0.38 (liquidity pool).
  
• Stop Loss: $0.295 (below current price).
  

Risk Score:

• 7/10 – High risk environment, but favorable risk-to-reward if key levels hold.
  

Recommendation:

• Wait for confirmation of a bounce at $0.28-$0.29 before entering long positions.
  
• Market structure remains bearish until price reclaims $0.36.
  
• Exercise patience and maintain tight risk management.
  

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