Current Price: 3.6650 USDT (up 84.37%).
Moving Averages:
MA5 (short-term): Indicates potential volatility.
MA10 and MA60: Downtrend still in play but showing recent recovery.
MACD:
Positive histogram values: Bullish momentum, but the MACD line is slightly close to the signal line, showing caution.
Volume:
Recent spikes in buying volume suggest bullish pressure but decreasing volume could indicate weakening momentum.
Trading Plan
1. Long Position
Entry Point:
Breakout confirmation above 3.73 USDT with increased volume.
Take Profit (TP):
TP1: 3.85 USDT (short-term resistance).
TP2: 4.00 USDT (psychological resistance).
Stop Loss (SL): 3.55 USDT (below the support zone to manage risk).
Trade Duration: 4-6 hours to 1 day depending on breakout strength.
2. Short Position
Entry Point:
Breakdown below 3.60 USDT with significant selling volume.
Take Profit (TP):
TP1: 3.50 USDT (recent support).
TP2: 3.30 USDT (major support level based on trend).
Stop Loss (SL): 3.75 USDT (above resistance).
Trade Duration: 4-6 hours to 1 day depending on downward momentum.
Contingency Plans
Plan A: If the market goes against your position.
For Longs:
Exit immediately if the price breaks 3.55 USDT with heavy volume.
Re-enter only if a strong reversal signal forms (e.g., bullish engulfing, hammer).
For Shorts:
Exit immediately if the price breaks 3.75 USDT with strong buying volume.
Consider re-entering on bearish reversal patterns (e.g., shooting star, evening star).
Plan B: If no clear trend emerges.
Hold off on trading and wait for price consolidation near 3.65-3.70 USDT.
Watch for breakout or breakdown signals before taking action.
Plan C: If volatility spikes unexpectedly.
Use trailing stop-loss orders to lock in partial profits while protecting against losses.
Plan D: If volume dries up.
Avoid trading in low-volume conditions as it may lead to false breakouts or breakdowns.
Risk Management
Allocate no more than 2-3% of your total portfolio to this trade.
Ensure proper position sizing and stick to the stop-loss to minimize losses.
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