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The recent trend of the 1000000BOB/USDT futures is quite interesting. On the 15-minute chart, the RSI has already surged to 92, firmly in the overbought zone. However, on the 1-hour and 4-hour charts, although the trend remains strong, the volume has shrunk to only -98.2%, which is a bit of a warning sign.
From a technical perspective, the current price is at the psychological level of 0.0200. Resistance levels are at 0.0205 and 0.0215, while support levels are at 0.0192 and 0.0180. How should we operate from this position?
If the price breaks above 0.0205, consider opening a small long position, targeting 0.0215, with a stop loss at 0.0199. If it falls below 0.0192, switch to a short position, aiming for 0.0180, with a stop loss at 0.0198. As for the current price vicinity, my suggestion is to stay on the sidelines and wait for clearer signals before taking action.
Honestly, with volume so shrinking, I prefer to stay put. Better to miss a wave of the market than to get caught in this muddy water. Wait for an effective breakout above 0.0205 or below 0.0192 before entering, as that will significantly increase safety.