Bullish Breakout Signal
short
1. Entry Point:
Entry: Around $3.20
This level is chosen because the price has gained momentum from the low, and the RSI is above 70, indicating strong bullish sentiment.
2. Stop-Loss:
Stop-Loss: At $3.80
Placing it slightly below the recent resistance getting caught in a false breakout.
3. Take-Profit:
Take-Profit: Between $2.80 and $1.80
This aligns with the previous resists Spot, where a potential pullback might occur.
4. Exit Point (If Trend Fails):
If the price drops below $3.80, exit immediately as this would indicate a trend failure.
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Signal Analysis:
The EMA (7, 25, 99) crossover suggests bullish momentum, especially since the price is holding above the short-term EMAs (7 & 25).
The RSI values (72 & 89) indicate strong buying pressure but hint that resistance may come into play soon.
MACD shows a positive divergence, supporting the ongoing uptrend.
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Recommendation:
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This setup is ideal for short-term trading, especially when market volume is increasing.
