This trade is based on a confirmed bullish structure following a Break of Structure (BOS) and multiple Change of Character (CHoCH) signals, indicating a potential trend reversal. Price is currently trading within a rising channel, pulling back into the key Fibonacci 50%-61.8% retracement zone (2,551 – 2,539 USDT).
This area aligns with a possible institutional order block, increasing the likelihood of a bullish reaction. The trade targets a move back toward the local high around 2,598 USDT, with potential extension to the liquidity zone near 2,670 USDT. A protective stop-loss is placed below structure at 2,527 USDT, ensuring a favorable risk-to-reward ratio.
This area aligns with a possible institutional order block, increasing the likelihood of a bullish reaction. The trade targets a move back toward the local high around 2,598 USDT, with potential extension to the liquidity zone near 2,670 USDT. A protective stop-loss is placed below structure at 2,527 USDT, ensuring a favorable risk-to-reward ratio.
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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.