Chart Analysis and Strategy:
1. Target and Prices:
• Fibonacci levels are clearly drawn on the chart. 0.5 (0.01121) and 0.618 (0.01123) levels stand out as strong resistance areas.
• The first target area can be 0.012 levels, then 0.026 (Fibonacci 0.236) levels.
• Levels of 0.05 and above can be taken into consideration for long-term targets.
2. Support and Resistance:
• Support: The current price level of 0.0105 appears to be support. Further down, the 0.0080 area may act as critical support.
• Resistance: 0.01123 level (Fibonacci 0.618), 0.01250 and 0.026 levels are strong resistances.
3. Indicators:
• Fibonacci Levels: Used to determine major resistance and support points.
• Momentum: The price is in an upward move, momentum may be gaining strength in a positive direction.
• Volume: An increase in volume could be a factor that will support the continuation of the breakout move.
4. Formations and Transformation:
• A falling trend line has been broken on the chart. This may signal the start of an upward trend.
• A rise from the support zone could be a “trend reversal” signal.
5. Trend Direction:
• The current trend is upward. The price breaking the downtrend indicates that the upside potential will continue.
6. Strategy:
• Buying Strategy: Buying can be done close to the current support levels (0.0105). Volume confirmation can be waited for a safer entry.
• Take Profit: The first target is at 0.01250 levels, then profit can be taken at 0.026 levels.
• Stop Loss: A stop-loss level can be placed below the 0.0080 level.
• Risk Management: Position sizing should be done according to investment amount and profit targets.
Conclusion: The chart shows upward momentum with the breakdown of the downtrend. There is a positive outlook in the medium and long term. However, attention should be paid to resistance levels and risk management should be provided.