PYTHUSDT is exhibiting a bullish divergence
on the 4-hour timeframe, suggesting a
potential reversal in the prevailing downtrend.
Furthermore, the price has successfully
breached its lower high level and established a
higher high, indicating a strengthening bullish
momentum.
Based on this analysis, a trading strategy can
be outlined as follows:
Entry: Consider entering a long position at the
current market price of $0.4700
Stop Loss (SL): Place a stop loss order at
$0.3540 to manage risk and mitigate potential
losses
Take Profit (TP): Set take-profit levels to
achieve a 1:1, 1:2 risk-reward ratio:
TP1: Set the first take-profit level at $0.5860
TP2: Aim for the second take-profit level at
$0.7090
This trading strategy anticipates a bullish
reversal based on the identified bullish
divergence and the breakout above the lower
high level.
on the 4-hour timeframe, suggesting a
potential reversal in the prevailing downtrend.
Furthermore, the price has successfully
breached its lower high level and established a
higher high, indicating a strengthening bullish
momentum.
Based on this analysis, a trading strategy can
be outlined as follows:
Entry: Consider entering a long position at the
current market price of $0.4700
Stop Loss (SL): Place a stop loss order at
$0.3540 to manage risk and mitigate potential
losses
Take Profit (TP): Set take-profit levels to
achieve a 1:1, 1:2 risk-reward ratio:
TP1: Set the first take-profit level at $0.5860
TP2: Aim for the second take-profit level at
$0.7090
This trading strategy anticipates a bullish
reversal based on the identified bullish
divergence and the breakout above the lower
high level.
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.