OBSERVATIONS
Current Price:
$120.98 (+20.21% in 24h, indicating strong bullish momentum).
24h High/Low: $129.78 / $100.08 (volatility is evident).
Indicators Present:
Moving Averages (MA):
The price is above the MA60, signaling an uptrend.
MACD:
The histogram shows diminishing momentum (MACD is near the signal line).
STRATEGY & PLAN
Short-Term Trade (15m to 4h chart view):
Entry Point (Buy):
If the price consolidates above $120 (key psychological level) with increasing volume.
Confirmation of bullish momentum (e.g., MACD crossover above 0).
Take Profit (Sell):
Plan A: Close position at $125 (key resistance).
Plan B: Trail profits up to $129 (24h high).
Stop Loss:
Set at $118, slightly below recent support and MA60 to minimize losses.
Long-Term Trade (1D chart view):
Entry Point:
On a pullback to $115-$118 zone (strong support from the chart and MA alignment).
Confirmation with an uptick in MACD or volume.
Take Profit:
Plan A: $130-$135 if the price breaches $129 with strong volume.
Plan B: $140+ if bullish breakout sustains.
Stop Loss:
$110 to avoid large drawdowns if the trend reverses.
ADDITIONAL INDICATORS TO CONFIRM
Relative Strength Index (RSI): Look for overbought (>70) or oversold (<30) conditions.
Bollinger Bands: Check for price breakouts beyond the bands for volatility.
Volume Analysis: Ensure increasing volume supports the uptrend.
RISK MANAGEMENT
Position Sizing: Never risk more than 1-2% of your capital on a single trade.
Diversify: Avoid putting all your funds into one trade; consider splitting into multiple setups.
CONTINGENCY PLANS (if signals go against you)
Plan A: Exit early at $119 if price breaks below MA60 with rising bearish volume.
Plan B: Hedge with a short position below $115, targeting $110.
Would you like me to analyze further using any additional indicators or different timeframes?
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