Based on the $RSR /USDT 1-hour chart provided, the price has experienced significant bullish momentum, with a 24-hour gain of 27.45%.
However, a retracement is currently underway, which indicates a potential correction phase. Here’s a professional analysis:
1. Trend Direction: The overall trend remains bullish, supported by a strong upward movement over the last day.
2. Key Levels: The 24-hour high at $0.015800 acts as a resistance level, while the $0.014000 zone serves as immediate support.
3. Entry for Long: Consider entering long around $0.014000–$0.014200, where the retracement might consolidate before resuming the uptrend.
4. Stop Loss for Long: Place a stop loss at $0.013500 to minimize risk if the price fails to hold the support level.
5. Target for Long: First target at $0.015500, with an extended target at $0.016000 if momentum continues.
6. Entry for Short: A short position could be considered if the price breaks below $0.014000, confirming bearish momentum.
7. Stop Loss for Short: Place a stop loss at $0.014500 above recent resistance levels.
8. Target for Short: First target at $0.013500, with an extended target near $0.013000.
9. Indicators: Monitor RSI and volume levels to confirm momentum before entering trades.
10. Risk Management: Limit position sizes to ensure proper risk-to-reward ratios, aiming for at least 2:1.
This plan balances risk while leveraging both long and short opportunities based on the chart's key levels and trend.
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