Trade Setup Analysis for #TWTUSDT


The price of $TWT is currently in a downtrend. However, a recent bullish breakout from a Falling Wedge pattern indicates potential for upward movement.

Recent Price Action:

The asset has reached the $1.00 resistance level but has been rejected there on three separate occasions, suggesting this level is a strong barrier.

Key Technical Levels:

Resistance: $1.00
This level has proven to be a significant point of rejection.

Support: $0.80
This zone presents a potential entry point for traders looking to capitalize on a bounce.

Stop Loss: $0.76
A stop loss below this level will help mitigate risk in case the price continues to decline.

Trading Strategy:

Entry Point: Consider initiating a long position on pullbacks to $0.80, which serves as a support level.

Profit Target: Set a target at $1.00, offering approximately +25% upside potential from the entry point.

Risk Management: Implement a stop loss at $0.76 to protect against adverse price movements.

Conclusion :

This setup presents a potential swing trading opportunity with a favorable risk-to-reward ratio. Monitor market conditions and price action closely before execution to ensure optimal entry and management of the position.



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