If the price drops below 0.37, I intend to open a short position at 0.3594, aiming for a 7% profit. With a 3x margin, this would translate to a 21% profit. My stop-loss will be set at 0.3686.
This analysis is suitable for risk-takers. I am opening a short position here with 1x leverage and waiting for a Fibonacci correction. If the price reaches 0.4063, I intend to add 50% to the position. My stop loss will be at 0.4265.
Based on the analysis, the current pattern appears to resemble a flag formation, indicating a potential upward movement towards 0.2960 initially. Following this rise, there might be a brief period of stability around that level before breaking through the resistance barrier and aiming for the subsequent resistance level at 0.3401.