📌 Current Situation:
A deviation of the key level occurred, followed by a strong recovery and consolidation on the 1H timeframe.
The price rebounded from a critical zone, showing a local reversal.
🎯 Trading Plan:
🔹 Entry Zone: Limit orders in the range of 0.6828 - 0.6670 (1H OB cluster).
🔹 Stop-Loss: Placed below 0.6524, as marked on the chart.
🔹 Target: Potential upside towards 0.88 - 0.90 as part of a mid-term recovery.
📈 Justification:
✅ Technical Support: The price bounced off a strong demand zone.
✅ Market Structure: Possible formation of an Inverse Head and Shoulders pattern.
✅ Risk/Reward: Favorable R/R ratio, with strong support below current levels.
💡 Conclusion:
The trade setup is justified in terms of risk management and market structure. However, it's crucial to consider BTC's overall trend, as it impacts the entire altcoin market.
A deviation of the key level occurred, followed by a strong recovery and consolidation on the 1H timeframe.
The price rebounded from a critical zone, showing a local reversal.
🎯 Trading Plan:
🔹 Entry Zone: Limit orders in the range of 0.6828 - 0.6670 (1H OB cluster).
🔹 Stop-Loss: Placed below 0.6524, as marked on the chart.
🔹 Target: Potential upside towards 0.88 - 0.90 as part of a mid-term recovery.
📈 Justification:
✅ Technical Support: The price bounced off a strong demand zone.
✅ Market Structure: Possible formation of an Inverse Head and Shoulders pattern.
✅ Risk/Reward: Favorable R/R ratio, with strong support below current levels.
💡 Conclusion:
The trade setup is justified in terms of risk management and market structure. However, it's crucial to consider BTC's overall trend, as it impacts the entire altcoin market.
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.