ATHUSDT - Golden Pocket to the Moon +100% Gains in Sight!
Updated
Should we panic or buy the fear? We've had a deep retracement on alts across the board. Let's break it down and figure out our strategy for this long opportunity.
LONG TRADE - CONFLUENCE
Golden Pocket: The price has perfectly retraced to the golden pocket between the 0.618 and 0.666 Fibonacci levels.
Point of Control (POC): This area also coincides with the POC, adding to its significance as a support level.
Fibonacci Speed Fan: The 0.786 level of the Fibonacci speed fan aligns with our golden pocket and POC, reinforcing this area as a strong support zone.
Long Trade Setup: High-Probability Trade
Entry Point:
Golden Pocket: Enter a long trade from the golden pocket area around $0.07.
Stop-Loss Placement:
Below POC: Place the SL just below the golden pocket/POC (tight SL) or place the SL below the swing low at around 0.064.
Target Levels:
First Take Profit (TP1): Set the first TP at $0.10.
Overall Target (TP2): Aim for the overall target at $0.147.
ATH's retracement to the golden pocket offers a prime opportunity for a long trade with an excellent R:R. The confluence of the golden pocket, POC and Fibonacci speed fan makes this a strong support zone and an ideal entry point.
What are your thoughts on this analysis? Are you ready to go long on ATH?
LONG TRADE - CONFLUENCE
Golden Pocket: The price has perfectly retraced to the golden pocket between the 0.618 and 0.666 Fibonacci levels.
Point of Control (POC): This area also coincides with the POC, adding to its significance as a support level.
Fibonacci Speed Fan: The 0.786 level of the Fibonacci speed fan aligns with our golden pocket and POC, reinforcing this area as a strong support zone.
Long Trade Setup: High-Probability Trade
Entry Point:
Golden Pocket: Enter a long trade from the golden pocket area around $0.07.
Stop-Loss Placement:
Below POC: Place the SL just below the golden pocket/POC (tight SL) or place the SL below the swing low at around 0.064.
Target Levels:
First Take Profit (TP1): Set the first TP at $0.10.
Overall Target (TP2): Aim for the overall target at $0.147.
ATH's retracement to the golden pocket offers a prime opportunity for a long trade with an excellent R:R. The confluence of the golden pocket, POC and Fibonacci speed fan makes this a strong support zone and an ideal entry point.
What are your thoughts on this analysis? Are you ready to go long on ATH?
Trade closed manually
The volume was insufficient to maintain that level as support. Trade closed.Disclaimer
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