$ORDI
Time Frame: 4H, 1H
Trade Type: Swing Trade, Intraday Trade
Strategy: Multi-Time Frame Analysis
Technical Analysis: ICT/SMC & SKS
The market is currently in an uptrend. A correction and rebound to the 42-41 range is necessary to sustain this trend, as that area contains a strong Point of Interest (POI). Using a confirmation entry for trading is recommended to ensure the optimal timing and minimize risk.
The market is experiencing a necessary correction to facilitate a rebound and ultimately break the previous high. This correction phase is critical for the health of the uptrend, as it allows for the accumulation of buying pressure at lower levels.
In my recent trading activity with this coin, I executed two trades. The first trade nearly reached the take-profit (TP) level but was unfortunately stopped at the stop-loss (SL+) point. Observing the market dynamics, I anticipated a continued downtrend in the shorter time frame (1H) and conducted a thorough analysis, which led me to identify a promising entry point.
It is important to note that while the coin will likely experience a short-term decline, this should not be a cause for concern. Corrections are a natural and necessary part of any market cycle. The coin is expected to resume its upward trajectory in the longer term. The anticipated correction will provide a healthier foundation for the next phase of the uptrend, offering new opportunities for traders and investors.
We can effectively navigate these market fluctuations by leveraging multi-time frame analysis and employing technical strategies such as ICT/SMC and SKS. Staying informed and prepared for short-term corrections and long-term gains will enable us to capitalize on the coin's full potential.
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