Key Observations:
Current Price: 1.516 USDT
24h High: 1.730 USDT
24h Low: 0.930 USDT
Price Change: +62.66% over 24 hours.
MACD: Showing weak negative divergence, indicating a potential reversal or consolidation in the short term.
Volume: There was a notable spike, suggesting increased interest, but it's currently flattening out.
Strategy for Long Positions:
Plan A - Entry Point:
Entry: If the price falls towards 1.50 USDT (around MA60 level support), this could be a good re-entry for a long position. It aligns with the moving average and psychological support.
Take Profit (TP):
Short-term TP at 1.60 USDT (recent resistance).
Mid-term TP at 1.73 USDT (24h high).
Stop Loss (SL):
SL at 1.45 USDT (just below MA60 to limit downside risk if the price continues to break downward).
Plan B - Breakout Entry:
Entry: If the price breaks above 1.60 USDT, consider entering on the breakout with increased volume confirmation.
TP:
Short-term TP at 1.73 USDT (recent high).
Mid-term TP at 1.85 USDT (possible next target based on the 24h high surge).
SL:
SL at 1.55 USDT to protect against a false breakout.
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Strategy for Short Positions:
Plan C - Entry Point:
Entry: If the price breaks below 1.50 USDT, enter a short position as this suggests the trend may be reversing.
TP:
Short-term TP at 1.45 USDT (below MA60).
Mid-term TP at 1.35 USDT (previous support).
SL:
SL at 1.55 USDT (to avoid being caught in a quick reversal).
Plan D - Overextended Short:
Entry: If the price spikes towards 1.70â1.73 USDT without significant volume, consider entering a short on an overbought condition.
TP:
Short-term TP at 1.60 USDT (recent resistance).
Mid-term TP at 1.50 USDT (moving average level).
SL:
SL at 1.75 USDT to protect against a strong upward breakout.
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Trade Duration:
Short-term (15m - 1h): For quick trades within the volatility.
Mid-term (1D): Ideal for swing trades that capture larger moves.
Long-term: Consider watching broader crypto trends before holding for longer than 1D, especially given the current volatile movement.
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If the Signal Goes Against You:
1. Plan A/B (Long):
If the price breaks below 1.45 USDT, re-evaluate the trend as this could signal a deeper pullback. Close long positions and consider switching to short positions.
2. Plan C/D (Short):
If the price moves above 1.75 USDT, close short positions to prevent further losses and consider entering a long position.
Risk management is crucial in this volatile market. Adapt to the movement by following key resistance and support levels, ensuring tight stop losses are in place.
