Technical Analysis:
– Trading within a strong ascending channel since August 2024
– Current price: 0.7145 USDT
– Price retesting major channel support – prime entry zone
Entry Strategy:
Strategic Entry: 0.7007 USDT
– Perfect channel support confluence
– Higher lows pattern maintained
– Volume profile showing accumulation signs
Target Projection:
Primary Target: 1.3114 USDT (87% ROI potential)
– Channel resistance alignment
– Historical resistance zone
– Clear upward trajectory within channel
Risk Management (CRITICAL):
️ Stop Loss: -4% below entry
– Protected by channel support
– Clear invalidation level
– Impressive 1:21.75 Risk-Reward ratio
Key Technical Factors:
– Ascending channel providing clear direction
– Multiple touches validating channel strength
– Price action showing healthy pullback to support
– Volume confirming key reversals at support
Trading Plan:
1. Enter at 0.7007 USDT
2. Stop loss at -4% for capital protection
3. Partial profits recommended at channel midpoint
4. Final target at upper channel resistance
️ Important Notes:
– Channel trades require patience
– Watch for bullish confirmation at entry
– Volume confirmation crucial
– Always use proper position sizing
Remember:
– DYOR (Do Your Own Research)
– Risk management is crucial
– Market conditions can change
– Follow your trading plan strictly
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