TRADE $VIC
1. Price Action:
- The price surged from $0.34 to $0.48, showing strong bullish momentum. Now it's consolidating around $0.4263.
2. Support and Resistance:
- Resistance: $0.443 and $0.48.
- Support: $0.3813 and $0.3668.
3. RSI Analysis:
- RSI is near overbought territory, indicating potential for a pullback.
4. Patterns:
- Double Top: Possible bearish reversal around $0.48.
- Bullish Flag: Suggests a breakout if price exceeds $0.443.
Trading Strategy:
1. Buy Levels:
- Aggressive: Buy at $0.4263. **Stop Loss:** $0.41.
- Conservative: Buy at $0.38. **Stop Loss:** $0.36.
2. Sell Levels:
- Take Profit:
- $0.443 (first target).
- $0.48 (second target).
- Aggressive Sell: Sell at $0.44 if price struggles at $0.443.
Stop Loss: $0.45.
3. Stop Loss:
Use tight stops below support levels due to high volatility.
4. Watch For:
- RSI Divergence: Indicates potential reversal.
- Volume Spike: Confirms breakout or breakdown.
Conclusion:
The trend is bullish, but monitor resistance levels. A break above $0.443 could lead to $0.48. Otherwise, a drop to $0.38 is possible.
Trade smart and stay cautious!
