$OP USDT Trade Signal (4H Timeframe)
- Current Price: 1.424 USDT
- Trend: Recent higher low (HL) formation suggests a bullish recovery after consolidation.
Trade Setup:
Entry Zone:
- Buy between 1.40 - 1.43 USDT (Price is testing a resistance level of 1.482; look for a breakout confirmation).
Targets:
- Target 1: 1.482 USDT (Resistance level)
- Target 2: 1.647 USDT (Next major resistance)
- Target 3: 1.98 USDT (Long-term target)
Stop Loss:
- SL: 1.27 USDT (Below the previous support level and recent low).
Indicators:
- RSI: Rising, approaching the 70 mark, indicating strong buying momentum. However, caution near overbought levels.
- Breakout Confirmation: A strong candle close above 1.482 USDT will indicate a bullish continuation.
Risk/Reward:
- RR for Target 1: ~2:1
- RR for Target 2: ~3:1
Watchlist: Monitor the breakout level of 1.482 USDT closely, as failure to break may result in a retracement toward the 1.27 USDT support level. High volume will confirm the breakout strength.
