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📉 Coin Name: #HOOK
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Based on the analysis of the 1-hour time frame, it appears that HOOK is forming an ascending channel pattern. This pattern typically indicates a bullish trend. Furthermore, there's been a breakout above the resistance line of this ascending channel, which further strengthens the bullish sentiment.
Given this analysis, here are the recommended trading parameters:
Entry: Either at the market price or at 1.5585
1st Take Profit (TP): 1.6198
2nd Take Profit (TP): 1.6460
3rd Take Profit (TP): 1.7000
Stop Loss (SL): 1.5100
This setup suggests a bullish outlook for HOOK, with potential targets at 1.6198, 1.6460, and 1.7000. The stop loss is placed at 1.5100 to manage risk in case the trade goes against the anticipated direction.
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