Entry Point:
Enter a long position around $0.4590-$0.4600 after confirmation of a breakout or bullish reaction at this demand zone. Look for bullish candlestick patterns such as wicks rejecting lower prices, bullish engulfing candles, or lower timeframe structure shifts to confirm entry.
Stop-Loss (SL):
Set your stop-loss below $0.4100, just beneath the support level, allowing for minor wicks while minimizing downside risk.
Take-Profit Levels:
📍 TP1: $0.6500
Justification:
🔹 Range Low Support: Price is reacting from a key support level within a well-defined range.
🔹 Potential Range Reversal: The setup suggests a move towards the range highs at $0.6500-$0.6664 if the support holds.
🔹 Liquidity Sweep: Previous wicks indicate potential liquidity grabs, often preceding a reversal.
🔹 Risk-Reward Favorability: Aiming for at least a 3:1 risk-to-reward ratio, making the setup efficient.
📌 Bonus: If price reaches $0.6500-$0.6664, watch for potential rejection for a short opportunity targeting mid-range levels.
Disclaimer:
This setup is for educational purposes only and does not constitute financial advice. Always conduct your own research and consult a licensed financial advisor before entering trades. The cryptocurrency market is highly volatile—only trade with funds you can afford to lose.
Enter a long position around $0.4590-$0.4600 after confirmation of a breakout or bullish reaction at this demand zone. Look for bullish candlestick patterns such as wicks rejecting lower prices, bullish engulfing candles, or lower timeframe structure shifts to confirm entry.
Stop-Loss (SL):
Set your stop-loss below $0.4100, just beneath the support level, allowing for minor wicks while minimizing downside risk.
Take-Profit Levels:
📍 TP1: $0.6500
Justification:
🔹 Range Low Support: Price is reacting from a key support level within a well-defined range.
🔹 Potential Range Reversal: The setup suggests a move towards the range highs at $0.6500-$0.6664 if the support holds.
🔹 Liquidity Sweep: Previous wicks indicate potential liquidity grabs, often preceding a reversal.
🔹 Risk-Reward Favorability: Aiming for at least a 3:1 risk-to-reward ratio, making the setup efficient.
📌 Bonus: If price reaches $0.6500-$0.6664, watch for potential rejection for a short opportunity targeting mid-range levels.
Disclaimer:
This setup is for educational purposes only and does not constitute financial advice. Always conduct your own research and consult a licensed financial advisor before entering trades. The cryptocurrency market is highly volatile—only trade with funds you can afford to lose.
Trade active
Closed at SL. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.