NOTcoin chartAnalysis by Amadarz✅
This chart for NOT/USDT suggests a bearish trend that is now consolidating, with a descending trendline. Here's a breakdown of the setup:
1. Current Price : 0.01061 USDT 📉.
2. Trendline Break : The setup is recommending to wait for a break of the descending trendline ⏳ before entering a long position. This is crucial as it would signal a potential trend reversal or bullish continuation 📈.
3. Second Entry : There’s a potential second entry at 0.00912 USDT 🚪, a key level based on previous support.
4. Target Levels 🎯:
- TP1 : 0.01114 USDT 🟢 (minor resistance level).
- TP2 : 0.01229 USDT 🟢 (further resistance).
- TP3 : 0.01435 USDT 🏁 (approaching a significant resistance).
5. Stop-Loss Zones : Recommended stop-loss is between 0.00907 USDT and 0.00857 USDT 🔴, just below the recent major swing low.
Key Observations:
- Risk Management : The stop-loss below 0.00912 ensures solid risk control 🔒, protecting your downside below the recent low.
- Action Plan : If the trendline breaks with strong volume or bullish confirmation 🚀, consider taking profits at the targets in sequence, with TP1 being conservative, and TP3 offering the maximum reward 🎉.
Keep an eye 👀 on the volume and price action around the trendline for confirmation of the breakout!
