Graphic Analysis and Interpretation:
1. Trends and Formations:
• A significant downtrend breakout is clearly observed on the chart. This breakout indicates a strong uptrend potential.
• A structure such as the Inverse Head and Shoulders (TOBO) or symmetrical triangle formation may have formed. With the completion of the formation, a move towards target price areas may be expected.
2. Support and Resistance Levels:
• Support Levels: The 0.022 - 0.025 zone acts as a strong support. If this level is maintained, the rise may continue.
• Resistance Levels: 0.043, 0.058 and 0.07 regions appear as resistance. Passing these levels is critical to reaching the targets specified in the chart.
3. Targets and Prices:
• First target: 0.043 (near resistance).
• Second target: 0.058 (main target).
• Long-term target: Above 0.07, big upside potential on the chart.
4. Indicators:
• RSI: In an uptrend, it may be close to the overbought region. However, as long as the trend continues, this does not pose a risk.
• MACD: In positive territory, buy signal continues.
• Moving Averages (MA): A golden cross may have formed, especially between the 50 and 200-day averages. This supports the rise.
5. Strategy and Recommendations:
• Short Term: If the price remains in the 0.022 - 0.025 support area, a purchase can be made. The stop-loss level should be below this support.
• Medium Term: Position can be increased by breaking the 0.043 level.
• Long Term: A volume break above 0.058 could trigger a larger rally. In this case, targets above 0.07 are possible.
6. Risk and Management:
• It would be safe to set the stop-loss level below 0.022.
• Gradual profit taking can be done between targets.
• Market conditions, especially BTC movements, should be taken into consideration.
Conclusion:
This chart appears to have entered an uptrend after breaking the downtrend. It offers a positive outlook in the medium and long term with high volume and indicator support. However, it is important to proceed without neglecting the use of stop-loss.