#BinanceBNSOLPYTH
IRIS/USDT 🔥 Will B Delisting on 10-12-2024 🔥 🔥 So B Careful, here are the suggested trading strategies, including key levels, potential entry/exit points, stop-loss (SL), take-profit (TP) levels
Long Position
Entry Point: Around the key support level at $0.01242, which has shown strong buyer interest.
Take Profit (TP):
First TP at $0.01382, which aligns with the 200 SMA on the 1-hour chart.
Second TP at $0.01544, above the 200 SMA on the 4-hour chart, indicating a breakout scenario.
Stop Loss (SL): Set at $0.01190, slightly below the key support level to avoid false breakouts.
Trade Duration: 1-5 days, depending on the price movement and achievement of TP levels.
Short Position
Entry Point: Around the resistance level at $0.01382, where selling pressure could increase.
Take Profit (TP):
First TP at $0.01242, targeting the next support level.
Second TP at $0.01190, in case of a stronger downtrend.
Stop Loss (SL): Set at $0.01410, slightly above the resistance level.
Trade Duration: 1-3 days, as short trades often capitalize on quicker movements.
Indicators
RSI: Currently near overbought on shorter timeframes (~67), suggesting potential correction; longer timeframes (~41) indicate neutrality, hinting at a possible reversal.
MACD: Showing signs of a bullish crossover on the 1-hour chart but remains bearish on the daily chart.
Contingency Plans
Plan A (Bullish Rejection): If the price fails to break the resistance at $0.01382, consider exiting or reversing into a short position.
Plan B (Breakout): If the price breaks above $0.01382 and holds, adjust TP to $0.01544 and SL to $0.01350 for a long trade.
Plan C (Bearish Breakdown): If the price falls below $0.01242, close long trades and switch to a short position targeting $0.01190.
Plan D (Range-Bound): If the price consolidates between $0.01242 and $0.01382, consider scalping strategies within this range. #ThanksgivingBTCMoves #BinanceBNSOLPYTH #BitwiseFiles10ETFs @Nasir0999999 $IRIS