not a finacial advise this my personal analysis

  1. Ichimoku Cloud:

    • On the daily timeframe, UNFI recently broke above the Ichimoku Cloud, which is a positive sign for a bullish trend. When the price stays above the cloud, it typically suggests a continued upward trend​Binance​FTMO.

    • However, we can see that the price is still facing resistance from the upper bounds of the cloud. A confirmed break above the resistance (around the $3 level) would further strengthen a bullish scenario.

  2. RSI:

    • The RSI on the daily timeframe is hovering near the neutral zone (around 52-53). This is neither in the overbought nor oversold region, indicating that there's room for further upward movement​TradingView​FTMO.

    • On the 4-hour chart, the RSI shows some slight bearish divergence (around 37), suggesting caution for short-term positions.

  3. Volume and MACD:

    • The recent spike in volume along with a positive MACD crossover is another sign of potential upward momentum. This should be monitored closely for confirmation​Binance.

Decision to Go Long:

Based on the Ichimoku breakout and relatively neutral RSI, it appears that a long position could be considered, but only if the price confirms its breakout above the current resistance around $3. Watch for a daily close above this level before committing to the trade.

Entry and Risk Management:

  • Entry: A long entry could be considered above $3.00 to confirm a bullish continuation.

  • Take Profit (TP): Based on the Fibonacci expansion and resistance levels:

    • TP1: $3.50 (previous resistance level).

    • TP2: $4.00 (strong psychological level and near the upper Fibonacci expansion zone).

  • Stop Loss (SL):

    • SL should be placed below the support of the Ichimoku cloud, ideally around $2.50, which is also supported by previous low levels​FTMO.

By following these strategies, you minimize risk while maximizing the potential for profit. Keep monitoring the RSI and volume for further confirmation, as market volatility can quickly shift.

Stay tuned for more action and follow me for the latest updates on Bitcoin market trends and trading strategies! 🚀