Trade Setup: VVV/USDT (Long)
Entry Strategy:
Breakout Entry (More Conservative): Wait for a confirmed 4-hour candle close above the major resistance at 4.974. Entering after the breakout (around 5.000) confirms the continuation of the bullish trend.
Pullback Entry (If Rejected): If the price faces rejection at the 4.974 resistance, look for a buy limit order on a pullback to the previous support/consolidation zone around 4.300 - 4.450.
Take Profit (TP) Targets:
TP1: 5.590 (Aligns with the next major grid level visible on the y-axis, acting as structural resistance).
TP2: 6.000 (Major psychological round number).
TP3: 6.641 (Top visible range on the chart's y-axis, for an extended runner).
Stop Loss (SL):
For Breakout Entry: Place the SL around 4.450. This is below the immediate consolidation before the current breakout attempt.
Wider Swing SL: 3.900. This is just below the most recent higher low. A drop below this level would break the current bullish market structure.
Technical Rationale
Market Structure: The chart shows a strong impulse wave from 1.725 up to 4.974, followed by a healthy, structured correction down to roughly 3.499. The price has now formed a clear "higher low" and is pushing back up, creating a potential cup-and-handle or a standard bullish continuation pattern.
Momentum: The current 4-hour candle is highly impulsive and green, indicating strong buying pressure as it approaches the 4.974 local high. Volume on the 24h ticker is also showing robust activity (45.15M USDT).
Key Resistance Test: The immediate hurdle is the 4.974 peak. Breaking this level essentially clears the path for price discovery or a move to higher timeframe resistance levels, which is why a breakout entry is often safer than buying right at resistance.
$VVV
#BlockAILayoffs #JaneStreet10AMDump #MarketRebound #AxiomMisconductInvestigation #STBinancePreTGE