CRV/USDT has successfully broken out of a falling wedge, signaling a potential bullish trend. To confirm the breakout before entering a trade, an ideal long entry would be a retest of the breakout level around $0.45 - $0.48. Alternatively, if the price maintains above $0.50, a breakout continuation entry remains valid.
For profit targets, the first level of resistance stands at $0.58, marking a key psychological level. The next major resistance is at $0.70, offering a potential 40% upside, while an extended target at $0.80+ could be reached if bullish momentum persists.
Risk management is essential, with a conservative stop loss placed below $0.45, invalidating the wedge breakout, and a more aggressive stop loss set below $0.42, which aligns with a major support zone.
With an entry at $0.48, a stop loss at $0.44 (-8%), and a take-profit target at $0.70 (+45%), the trade presents a strong risk-to-reward ratio (RRR) of ~5.6:1.
To manage the trade effectively, the stop loss should be moved to break-even once the price reaches $0.58. If the price approaches $0.65 - $0.70, securing partial profits while allowing the remaining position to run is a strategic approach.
What are your thoughts?
For profit targets, the first level of resistance stands at $0.58, marking a key psychological level. The next major resistance is at $0.70, offering a potential 40% upside, while an extended target at $0.80+ could be reached if bullish momentum persists.
Risk management is essential, with a conservative stop loss placed below $0.45, invalidating the wedge breakout, and a more aggressive stop loss set below $0.42, which aligns with a major support zone.
With an entry at $0.48, a stop loss at $0.44 (-8%), and a take-profit target at $0.70 (+45%), the trade presents a strong risk-to-reward ratio (RRR) of ~5.6:1.
To manage the trade effectively, the stop loss should be moved to break-even once the price reaches $0.58. If the price approaches $0.65 - $0.70, securing partial profits while allowing the remaining position to run is a strategic approach.
What are your thoughts?
Trade active
Target 1 hit! coin is up 18%Note
back at entry zone after hitting target 1Note
CRV is on fire!Note
TARGET 2 hit for $CRVUSDT. IT'S ON FIRETrade closed: target reached
CRV/USDT Trade Update 🚀Targets at $0.58 and $0.70 have been successfully hit!
Extended target at $0.80+ is still in play, but given the strong move, it's wise to secure some profits here. 📈
Partial take-profit advised, with runners left open for the extended move.
Risk management remains key — congratulations to everyone who caught this breakout!
#CRV #CryptoTrading #RiskManagement #TradingUpdate
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.