This technical analysis is based on the daily chart of 
HOTUSDT on the Binance exchange. In this analysis, a price channel is drawn, and support and resistance levels are evaluated.
Price Channel Analysis:
The price is currently within a price channel ranging from 0.002072 to 0.003237 USDT.
The suggested entry point is around 0.002295 USDT.
Entry and Exit Points:
Entry: 0.002295 USDT
Take Profit: 0.003237 USDT
Stop Loss: 0.002072 USDT
Conclusion:
This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 4.22, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
HOTUSDT on the Binance exchange. In this analysis, a price channel is drawn, and support and resistance levels are evaluated.Price Channel Analysis:
The price is currently within a price channel ranging from 0.002072 to 0.003237 USDT.
The suggested entry point is around 0.002295 USDT.
Entry and Exit Points:
Entry: 0.002295 USDT
Take Profit: 0.003237 USDT
Stop Loss: 0.002072 USDT
Conclusion:
This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 4.22, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
Trade closed: stop reached
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.