The 45-minute chart for NOT/USDT reveals a compelling short opportunity as the pair completes its five-wave impulsive move. The price action indicates a likely correction phase, aligning with the broader market's current sentiment.
Key Fibonacci Retracement Levels:
0.618 Retracement: $0.01021
1.0 Retracement: $0.00922
The chart suggests that after reaching the wave (b) peak, NOT/USDT is now poised to retrace toward the 0.618 Fibonacci level, with a potential deeper move down to the 1.0 level. Traders should watch for bearish confirmations around these Fibonacci retracement points to align with the downtrend.
This setup provides a clear path for short positions with well-defined targets. Ensure to set appropriate stop-loss levels to manage risk as the market corrects. Keep an eye on market reactions at these key levels to maximize potential returns.
Key Fibonacci Retracement Levels:
0.618 Retracement: $0.01021
1.0 Retracement: $0.00922
The chart suggests that after reaching the wave (b) peak, NOT/USDT is now poised to retrace toward the 0.618 Fibonacci level, with a potential deeper move down to the 1.0 level. Traders should watch for bearish confirmations around these Fibonacci retracement points to align with the downtrend.
This setup provides a clear path for short positions with well-defined targets. Ensure to set appropriate stop-loss levels to manage risk as the market corrects. Keep an eye on market reactions at these key levels to maximize potential returns.
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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.