SPELL is poised for a breakout, with a key market structure break sparking renewed interest. This zone is crucial as it represents a confluence of support and resistance levels.

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🟢 $SPELL LONG 📈

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📍 Entry Range: $0.000131 – $0.000131

🛑 Stop Loss: $0.000127 (-3.0%)

🎯 TP1: $0.000133 (+1.5%)

🏆 TP2: $0.000137 (+5.0%)

⚡ R/R Ratio: 1:1.7

📊 Confidence: 94%

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The setup is compelling, with CHoCH, CVD, FVG, OB, liquidity sweep, and POI confluence all firing in tandem, painting a picture of a strong bullish reversal. The overlap of OB and FVG is particularly significant, as it suggests a fair value gap is being filled. This structure looks primed for a move upwards, with the broken market structure now acting as support.

A 3.0% stop loss may be considered relatively tight, but it's suitable for a 1:1.7 risk/reward ratio, and using 2-3x leverage could be a good fit for this trade.

Taking partial profits at the first target could be a good strategy, as it allows for some risk management while still leaving room for the trade to develop further.

Not financial advice — always manage your own risk 🙏

#SPELLUSDT $SPELL #SMC #Write2Earn #Binance