HOOKUSDT trade ideas
Hooked Protocol (HOOK) forming a bullish BAT for the next pumpHi dear friends, hope you are well and welcome to the new trade setup of Hooked Protocol (HOOK) with US Dollar pair.
Recently we caught almost 11% pump of HOOK as below:
Now on a 4-hr time frame, HOOK is about to complete a bullish BAT move for the next price reversal.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
🔥 HOOK Crazy Break Out PotentialHOOK has been trading inside a falling wedge for 7 months now. In my view, a bullish break out of this pattern could lead to a new bull-trend for this token.
Naturally, a bullish BTC will help. Also, this trade could play out over the long-term, so no quick money here. Still, a risk-reward of 36 is very respectable.
I'm waiting for a daily candle to close above 1.08 to make an entry, stop just below 1.00, target at 4.00.
HOOK 4HThe hook has clear support with incoming limits and markets to hold and pump the price since August 5th. The resistance at 0.98 can break soon, and the price will move only up. Let's see if this happens.
FOR SURE, the hook could certainly accumulate further.
BTC also seems positive on the 4H chart as we can see the support of limits and a current local breakout.
Hooked Protocol massive bullish move👀 🚀HOOK Today Analysis💎Hooked Protocol is currently exhibiting an intriguing trend as it has successfully broken out from a falling wedge pattern, indicating a potential bullish move on the horizon.
💎 Another key observation is that HOOKUSDT is trading above the EMA 50 and maintaining its position strongly, which could potentially fuel a robust bullish momentum.
💎 The volume is also showing a significant spike, further triggering bullish sentiments. However, if the price re-enters the invalidation zone and breaks down, it could lead to a bearish shift.
💎In the dynamic world of crypto, staying informed and adaptable is key. Stay tuned for more updates and enjoy your trading journey
🔥 HOOK Falling Wedge Break OutHOOK has been trading bearish since the February top earlier this year. Nevertheless, I think that this token has more potential upside from this level. Wait for the daily candle to close above the top resistance to confirm the break out.
Target at the 2023 highs, stop just below 1.30, will come back to this trade if the break out happens later than expected.