CC Technical Analysis Feb 3

CC is testing critical support levels with a 9% drop in the last 24 hours while maintaining the HH/HL structure in the rising trend. If no BOS or CHoCH appears in the structure, the trend continuation potential is high, but LL formation below could signal a reversal.

Market Structure Overview

CC’s current market structure is characterized by higher highs (HH) and higher lows (HL) pattern reflecting the overall uptrend. In the recent period, price has moved up from the $0.1352 swing low, forming HHs near $0.2154 and staying above EMA20 ($0.16). This indicates the short-term bullish structure is preserved; however, the Supertrend’s bearish signal and 24-hour 9% loss increase the importance of the $0.1637 support level. In the MTF structure (1D/3D/1W), 8 strong levels were identified: 2 supports/2 resistances on 1D, 2 supports/3 resistances dominant on 3D. RSI at 59.50 is neutral-bullish, MACD provides support with a positive histogram. The integrity of the structure depends on holding the recent swing lows; otherwise, a LH/LL transition is possible.

Trend Analysis: Uptrend or Downtrend?

Uptrend Signals

The uptrend is supported by consecutive higher highs and higher lows. The upward move from the recent swing low at $0.1352 (70 score) formed a new HL supported at $0.1637 (76 score) and reached the HH target at $0.1806 (69 score). This pattern confirms the classic uptrend structure: Each HL is higher than the previous, and HHs are too. Position above EMA20 makes short-term momentum bullish; MACD’s positive histogram shows buyer pressure. In this structure, a BOS above $0.2154 confirms trend continuation with a new HH and opens the $0.3051 target.

Downtrend Risk

The downtrend risk begins with the break of the $0.1637 swing low; this triggers a CHoCH turning into LH/LL pattern. The $0.20-$0.17 range in the last 24 hours could form a lower high (LH) with rejection at $0.1806 resistance. Supertrend’s bearish signal increases the risk of return to $0.1352. If price falls below $0.1637, the 1D structure breaks, and combined with 3 resistances on 3D, LH/LLs strengthen the reversal. If RSI drops from 59.50 and MACD histogram turns negative, bearish momentum accelerates.

Structure Break (BOS) Levels

Main BOS levels: Bullish BOS with close above $0.1806 (69 score) and $0.2154 (62 score) confirms uptrend continuation and activates the $0.3051 structural target. Bearish BOS forms CHoCH with close below $0.1637 (76 score); this turns HL into LL and opens the path to $0.1352, ultimately reaching the $0.0300 bearish target. These levels reflect the criticality of swing points: BOS is the first signal of trend change and becomes valid with MTF alignment. No BOS expected on 1W timeframe, but 1D/3D misalignment is notable.

Swing Points and Their Importance

Recent Swing Highs

Recent swing highs are $0.1806 (69/100 score, nearby resistance) and $0.2154 (62/100, main HH). $0.1806 is the high point of the last 24 hours, forming LH on rejection. $0.2154 is the peak of the overall uptrend; BOS above it starts a new HH series. These swings determine resistance tests: Holding shows buyer strength; breaking shows trend power. Educationally, swing highs align with fib retracement 61.8% levels and should be confirmed with volume.

Recent Swing Lows

Critical swing lows are $0.1637 (76/100, primary support) and $0.1352 (70/100, secondary). Current price at $0.17 is near $0.1637; holding preserves HL structure. Break causes structure breakdown. These points test buyer defense: $0.1637 intersects EMA20 and provides MTF support alignment. Swing lows are entry zones for long positions; stop-loss should be placed here.

Bitcoin Correlation

BTC at $73,997 in downtrend (5.89% change), Supertrend bearish with supports at $73,730/$70,181. As a highly correlated altcoin with BTC, CC is affected: If BTC fails to break $75,638 resistance, CC’s $0.1637 break accelerates. If BTC falls below $70,181, CC heads to bearish target $0.0300. Conversely, if BTC rebounds to $78,691, CC could trigger $0.2154 BOS. BTC dominance rise creates structural weakness in altcoins; CC’s uptrend is vulnerable until BTC holds support. For detailed view, CC Spot Analysis and CC Futures Analysis.

Structural Outlook and Expectations

The structural outlook preserves the HH/HL uptrend; holding $0.1637 continues it, strengthening with $0.2154 BOS. CHoCH risk is high: $0.1637 break turns to LH/LL and aligns MTF bearish. Educational note: Market structure is determined by swing points and BOS; indicators (RSI/MACD) only confirm. No news, focus on price action: Nearby $0.17 could create volatility. Careful risk management is essential; structures can change rapidly.