$STPT /USDT Trading Signal – Consolidation Phase with Potential Breakout
Market Context: STPT is in a consolidation phase, trading within a tight range. This setup suggests a potential breakout, depending on whether the price breaks above resistance or falls below support.
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Long Trade Setup (Bullish Breakout):
Entry Zone: Above $0.06150
Targets:
Target 1: $0.06250
Target 2: $0.06350
Target 3: $0.06450
Stop Loss: $0.06050
Conditions for Long Entry:
Look for a strong breakout above $0.06150 with increased volume.
Wait for confirmation candles on the 5-minute chart before entering the trade.
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Short Trade Setup (Bearish Breakdown):
Entry Zone: Below $0.06000
Targets:
Target 1: $0.05900
Target 2: $0.05800
Target 3: $0.05700
Stop Loss: $0.06120
Conditions for Short Entry:
Monitor for increased selling pressure and a decisive move below $0.06000.
Confirm the breakdown with multiple 5-minute candles closing below this level.
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Risk Management:
Use a 2% risk strategy for position sizing.
Adjust stop loss to breakeven once the first target is reached.
Observation: Be patient and wait for a breakout or breakdown confirmation. Volume and RSI divergence can provide additional clues about the next price direction.
