MEME target 0.01314h time frame
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Entry: $0.0097
TP: $0.0131
SL: $0.00885
RR: 4
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(1) Double bottom is creating
(2) Bullish engulfing triggered reversal on 1h time frame
(3) For bottom structure like this, fib projection 2.0 is the general target around $0.0124
(4) Considering the ongoing big consolidation structure, set target higher at $0.0131
(5) Stop loss once going below $0.00885
Memeanalysis
MEME has the potential to break above the resistanceMEME has the potential to break above the resistance and continue the trend
🔵Entry Zone 0.037531 - 0.039768
🔴SL 0.033451
🟢TP1 0.047080
🟢TP2 0.058800
🟢TP3 0.077000
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MEME target 0.674h time frame
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Last analysis of MEME pointed out there was a potential cup and handle structure, but fail now. MEME kept going down and retested the neckline zone. So far, MEME is maintaining in a reasonable support zone around 0.033~0.036. Also, MEME just dump and try to make a wick low now, so we can set up a trading plan with great risk to reward ratio here.
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TP: 0.67
SL: 0.0293
MEME target 0.0674h time frame
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MEME is creating a potential Cup and Handle structure since reaching 0.057. Target of this CH is 0.067. Furthermore, according to Fibonacci Projection, there is a projected target from 0.382 to 1.382, which pump momentum will push MEME to 0.067. Structure and Fibonacci both point that 0.067 is the critical resistance, that is 'target resonance'.
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TP: 0.067
SL: 0.040
MEME target 0.0474h time frame
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MEME is breaking the horizontal resistance with a bottom structure and correcting so far, the support at 0.029 is critical for MEME to create a triangle that is also a potential continuation structure. The critical support is made from structure and 0.5 Fibonacci Projection, that provide an opportunity to set a long trading plan.
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TP: 0.047
SL: 0.027
MEME ANALYSIS (4H)MEME moved up from the FLIP (DEMAND) range. There is an important FLIP (SUPPLY) resistance in advance of the candles, which will cause price rejection.
When candles FLIP (SUPPLY) we will look for SELL/SHORT trades
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
MEMEUSDT possible movement till 26.111. MEMEUSDT respected 0.618 of daily fibs
2. MEMEUSDT formed support on 4 hour.
3. Anticipating level-by-level climb within the 4 hour bulllish channel.
4. 1st TP at minor resistance on the left
5. 2nd and final TP before analysis is invalidated, at structure high.
WDYT?