Greetings, fellow traders.
While many cryptocurrencies are experiencing upward momentum or consolidating in preparation for potential rallies, Notcoin (NOT) has recently surged 4-5%, reaching a critical daily resistance zone.
Breakout Potential:
This resistance level has proven significant, with NOT having tested and failed to break through it twice this week. A successful breakout above this zone could unlock substantial upside potential.
Long Trade Setup (Conditional):
Entry Trigger: A confirmed close of a 1-hour or 2-hour candle above the current daily resistance is required. Then, initiate a long position when the price of the subsequent candle surpasses the high of the confirming (breakout) candle. This two-step confirmation helps mitigate the risk of a false breakout.
Target 1: $0.003000 - $0.003100
Target 2: $0.003700 - $0.003800
Risk Management:
This is a higher-risk, breakout-based setup. Implement appropriate risk management, including a defined stop-loss strategy, to protect capital in case of a failed breakout.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Conduct thorough due diligence and risk assessment before making any trading decisions.
While many cryptocurrencies are experiencing upward momentum or consolidating in preparation for potential rallies, Notcoin (NOT) has recently surged 4-5%, reaching a critical daily resistance zone.
Breakout Potential:
This resistance level has proven significant, with NOT having tested and failed to break through it twice this week. A successful breakout above this zone could unlock substantial upside potential.
Long Trade Setup (Conditional):
Entry Trigger: A confirmed close of a 1-hour or 2-hour candle above the current daily resistance is required. Then, initiate a long position when the price of the subsequent candle surpasses the high of the confirming (breakout) candle. This two-step confirmation helps mitigate the risk of a false breakout.
Target 1: $0.003000 - $0.003100
Target 2: $0.003700 - $0.003800
Risk Management:
This is a higher-risk, breakout-based setup. Implement appropriate risk management, including a defined stop-loss strategy, to protect capital in case of a failed breakout.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Conduct thorough due diligence and risk assessment before making any trading decisions.
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.
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.