CONSOLIDATION PHASE ON $NXPC/USDT
/USDT is currently showing signs of consolidation between support at 0.6719 and resistance near 0.8000. Price is moving sideways with low volatility, indicating accumulation before a potential breakout. Traders should wait for a clear direction before entering a trade.
Trade Setup:
Entry (Long/Short): Wait for breakout above 0.8000 for bullish or below 0.6719 for bearish
Take Profit (TP): If bullish: 0.8318 / 0.8500; if bearish: 0.6500 / 0.6240
Stop Loss (SL): For bullish breakout: below 0.7800; for bearish breakdown: above 0.6900
Risk Management: Avoid entering during consolidation to minimize false signals. Use proper position sizing after breakout confirmation.
#NXPCUSDT #CryptoTrading #MarketConsolidation #TechnicalAnalysis #TradingStrategy