$BTCDOM Facing Selling Pressure Against Major Resistance Zones

Current situation shows that $BTCDOM is experiencing significant downward pressure on the 15-minute timeframe, with trading prices around 4538.7. A series of technical analysis tools all signal negative indications, including MACD, Stochastic, Momentum, RSI, PSAR, DMI, MFI, and Fisher. Notably, the ADX index indicates a weak trend, which may suggest external movements or reversals in the market.

Price Structure Analysis

Looking at the technical structure of $BTCDOM, the price has fallen significantly relative to the equilibrium point of 4556.45. The recent swing high was recorded at 4575.5, while the current price is noticeably lower. This indicates that sellers are in control of the market, with selling pressure maintained at higher levels.

Key support levels are identified at 4525.7 and 4517.2, forming an important support zone. However, if the price continues to decline, a stronger support at 4494.3 will play a crucial role in preventing further drops.

Resistance Zones and Trading Targets

$BTCDOM is currently struggling to approach resistance zones at 4540.8 and 4549.5. These zones act as major obstacles preventing the price from moving upward. Traders should note that if the price merely tests these zones without breaking through, selling opportunities will arise.

For those considering short positions, profit targets can be set at 4525.7, 4517.2, and further down at 4494.3. These targets are based on the identified support zones where the price may find support or small rebounds.

Risk Management

The recommended stop-loss level is placed above the nearest swing high, specifically at 4549.5. This helps limit losses if the price unexpectedly breaks and re-establishes above this resistance level. If $BTCDOM decisively breaks 4549.5 and maintains above this level, the downward scenario should be reconsidered, and traders need to adjust their strategies accordingly.