Current Situation: Price Level: CFX has broken the 50-day Moving Average (MA) and the daily downtrend, showing potential for a bullish move. China Narrative: Based on recent positive news related to China, there might be a pump affecting Chinese tokens, including CFX.
Trade Strategy: Entry Point: Enter a long position at the current price or within the range of $0.223 to $0.227. Take Profit Targets: First Target: $0.242 Second Target: $0.258 Stop Loss: Set a stop loss at a candle close below $0.22 to manage risk.
Summary: CFX has shown signs of turning bullish after breaking key technical levels and could benefit from the recent positive China-related news. The trade strategy involves entering at the current price or slightly below, with profit targets set at $0.242 and $0.258. The stop loss is set to trigger on a candle close below $0.22 to minimize potential losses.
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