$BURGER
{spot}(BURGERUSDT)
/USDT technical analysis and a trading strategy with three target keys:🎯
1. Trend Analysis:
Current Price: $0.6863, up 8.01% in the last 24 hours, showing bullish momentum.
24h High: $0.6864, indicating that price is nearing a local resistance zone.
24h Low: $0.6300, suggesting solid support at this level.
Price Action: Given the strong upward move and the 5.77% gain today, BURGER/USDT seems to be in a short-term uptrend.
2. Indicators:
Moving Averages (MA): Short-term MAs (e.g., 10 or 20 period) are likely showing an upward crossover, supporting bullish momentum.
Exponential Moving Average (EMA): Look for the price above the 50-EMA, indicating a continuation of the bullish trend.
Trade Strategy:
Given the bullish setup, here's the strategy:
Entry Point:
Primary Entry: If the price holds above $0.6300 (24h Low) and starts to retrace from the $0.6864 resistance level, an entry near $0.6500-$0.6600 could be ideal for a bounce higher.
Target Levels:
Target 1 🎯 (Short-Term Resistance): $0.7050
This is the first resistance zone above the 24h high. If the price clears this level, it signals further continuation.
Target 2 🎯 (Mid-Term Resistance): $0.7400
This is an intermediate resistance level based on recent price history and likely a point where the market may take a pause.
Target 3 🎯 (Long-Term Resistance): $0.8000
If the bullish trend continues, this level could be a target over the next few days/weeks as a longer-term resistance zone.
Stop Loss:
A stop loss should be set below the support zone around $0.6200 or $0.6300 (just below the 24h low), protecting against a deeper pullback in case the bullish momentum falters.
Trade Management:
As the price approaches each target, consider scaling out to secure profits. For example:
Close 50% of the position at Target 1 ($0.7050)
Close another 30% at Target 2 ($0.7400)
Let the remaining 20% run to Target 3 ($0.8000), adjusting the stop to break even if needed. #BURNGMT
