$BLUR TRADE SETUP
BLUR/USDT 4H Chart Analysis:
Overview:
The 4-hour chart of BLUR/USDT is in a consolidation phase after a downtrend. The price is attempting to form a reversal with multiple bullish signals emerging. The price bounced off a key support level at 0.1399 USDT, and the RSI is showing bullish divergence.
Key Levels:
- Support:
- 0.1399 USDT (strong support zone)
- 0.1088 USDT (next major support)
- Resistance:
- 0.1800 USDT (near-term resistance)
- 0.2065 USDT (higher resistance from the downtrend)
- 0.2257 USDT
(key resistance from previous highs)
Bullish Case:
- The recent bounce from 0.1399 USDT suggests that the bulls are defending this level.
- The RSI has printed multiple bullish signals, indicating potential upward momentum.
- A break above the 0.1800 USDT resistance could lead to further upside, targeting 0.2065 USDT.
Trading Strategy:
1. Entry:
- Consider entering a long position on a confirmed breakout above 0.1650 - 0.1700 USDT.
- For aggressive traders, entering near current levels with a tight stop below 0.1399 USDT is an option.
2. Take Profit Targets:
- TP1: 0.1800 USDT (near-term resistance)
- TP2: 0.2065 USDT (major resistance)
- TP3: 0.2257 USDT (strong resistance)
3. Stop Loss:
- Set a stop loss just below the 0.1399 USDT support to limit downside risk.
Risk Management:
- Use a risk-to-reward ratio of 1:2 or better, adjusting stop loss and take profits accordingly.
- Leverage can be applied at 3x-5x for short-term trades, but be cautious of volatility.
The price structure and bullish signals indicate a potential trend reversal, making this setup an attractive opportunity for swing traders.
