$THE price is currently consolidating after a massive spike, it is not in a clear trend. The best way to trade this right now is Range Trading.
$THE Trading points
👉🏻 Long Setup (Expecting a Bounce)
This trade assumes the support at the bottom of the range will hold.
• Entry Price: $0.1580 – $0.1600
• Take Profit 1 (TP1): $0.1650 (Middle Bollinger Band / Immediate resistance)
• Take Profit 2 (TP2): $0.1940 (Upper Bollinger Band / Major breakout target)
• Stop Loss (SL): $0.1350 (Just below the recent local low. If it breaks this, the "pump" is officially over).
👉🏻 Short Setup (Expecting a Rejection)
This trade assumes the price will fail to break the middle band and head back down.
• Entry Price: $0.1645 – $0.1660 (Near the middle purple line)
• Take Profit 1 (TP1): $0.1500 (Psychological mid-point)
• Take Profit 2 (TP2): $0.1360 (Recent support floor)
• Stop Loss (SL): $0.1720 (Above the middle band to protect against a sudden spike)
• Wait for Volume: The current chart shows low conviction. Do not enter a "breakout" trade unless you see a massive spike in the volume bars at the bottom
