#cgpt
Scenario 1: Bullish Continuation
• Entry: Wait for a pullback to the $0.2380 - $0.2350 support zone.
• Indicators to Watch:
• RSI near 40-50.
• 50 EMA holding price as support.
• Take Profit Levels:
• First Target: $0.2500 (near-term resistance).
• Second Target: $0.2700 (next resistance level if $0.2500 breaks).
• Stop Loss:
• Tight stop at $0.2300 to limit downside risk
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Scenario 2: Reversal or Consolidation
• Entry (Short): If price rejects at $0.2500 with a bearish candlestick (e.g., shooting star), consider a short position.
• Indicators to Watch:
• RSI drops below 70 from overbought levels.
• Price closes below the 50 EMA.
• Take Profit Levels:
• First Target: $0.2380.
• Second Target: $0.2300.
• Stop Loss:
• Above $0.2550 (just above the resistance level)
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Checklist for Monitoring the Market:
1. Trend Confirmation:
• Use MACD: A bullish cross (signal line crossing MACD line) supports long entries.
• Price holding above the 50 EMA is ideal for bullish momentum.
2. Breakout or Breakdown:
• Monitor the $0.2500 resistance for a potential breakout with volume.
• If the price fails to hold $0.2300 support, stay cautious and avoid longs .