đąđą Trading Signal for Celer Network / TetherUS (12h Chart) đ
Signal Type: Bullish đ
Chart Pattern:
âą The price has broken out of the down channel, indicating a potential trend reversal from bearish to bullish. đ
âą The recent breakout suggests a move towards higher highs. đ
Key Levels:
âą Immediate Support: $0.01204 (green shaded area) đ
âą Potential Resistance Levels:
âą First Target: $0.01381 đ
âą Second Target: $0.01519 đ
Technical Indicators:
âą RSI (Relative Strength Index): Currently at 61.34, showing increasing buying momentum, but not yet overbought. đ
âą Moving Averages: The price is moving above the moving average, which indicates bullish momentum. đ
Trade Setup:
âą Entry Point: Enter at the breakout point around $0.01219 after confirming the breakout is sustained. đŻ
âą Stop Loss: Set a stop loss below the support area, around $0.01129, to manage downside risk. â ïž
âą Take Profit: Consider taking partial profits at the first target $0.01381 and the rest at $0.01519. đ
Risk Management:
âą Use appropriate position sizing to mitigate risk, and monitor the trade as it approaches resistance levels. đ
Disclaimer:DYOR and NFA.
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