OBSERVATIONS
1. Current Price: $0.643, showing a significant +13.60% increase in the last 24 hours.
2. Volume: Noticeable volume spikes accompany price movement, indicating high market activity.
3. Moving Averages (MA):
MA(5): $44,085
MA(10): $31,659
MA60 is $0.6377, suggesting a short-term bullish trend with the price trading above the 60-period MA.
4. MACD: DIF is slightly above DEA, with a histogram indicating a weak bullish momentum.
STRATEGY FOR ENTRY & EXIT POINTS:
Long Trade Strategy:
Entry Point: Enter around $0.640–$0.645, ensuring the price sustains above MA60.
Stop Loss: Set at $0.628 (recent support level).
Take Profit:
Primary Target: $0.650 (24h high and immediate resistance).
Extended Target: $0.675 if the price breaks and consolidates above $0.650.
CONTINGENCY PLAN:
If the price fails to sustain above $0.628, exit and look for re-entry near $0.610.
Short Trade Strategy:
Entry Point: Consider shorting near $0.650 if there’s a rejection at the resistance level.
Stop Loss: Set at $0.658 (to protect against false breakouts).
Take Profit:
Primary Target: $0.635 (MA60 level).
Extended Target: $0.620 if bearish momentum increases.
CONTINGENCY PLAN:
If the price breaks above $0.658, exit the trade immediately.
INDICATORS FOR CONFIRMATION:
1. Volume Analysis:
A breakout above $0.650 should have high volume for confirmation.
A decline below $0.628 on increasing volume confirms bearish sentiment.
2. MACD:
Watch for DIF crossing well above DEA for long trades.
DIF falling below DEA confirms shorting opportunities.
RISK MANAGEMENT:
Risk-to-reward ratio: Maintain a 1:2 or higher.
Allocate no more than 2–3% of your total capital to this trade.
If you'd like to focus on more advanced strategies or require additional indicators like RSI or Bollinger Bands, let me know!
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