$NEXO ๐ Market Analysis & Trading Strategy: $NEXO /USDT (Binance) ๐
๐น Current Price: $1.109
๐น Timeframe: 1H & 4H
๐น Trend: Consolidation after breakout
๐น Key Levels:
Resistance: $1.162
Support: $1.092
Demand Zone: $1.065 - $1.080
Supply Zone: $1.162 - $1.180
๐ Technical Analysis:
โ๏ธ Structure: Break of Structure (BOS) confirming bullish intent
โ๏ธ Change of Character (ChoCH): Bullish bias strengthening
โ๏ธ Indicators:
Stochastic RSI: Currently cooling off from an overbought region
Moving Averages: $NEXO Price trading above key MAs, acting as support
โ๏ธ Liquidity Grab: Possible fakeout below support before another push up
๐ Trading Strategy: (Buy on Dip )๐ฅ๐ฅ
๐น Entry Zone: $1.092 - $1.095 (Re-test of support)
๐น Stop Loss: Below $1.065 (Breakdown invalidates bullish setup)
๐น Take Profit Targets:
TP1: $1.130
TP2: $1.162
TP3: $1.180
๐ข Sentiment & Risk Management:
๐ฌ Community Sentiment: Bullish on higher timeframes, cautious on lower
โ ๏ธ Risk Management: Always use stop loss, risking 1-2% per trade
๐ Confirmation Needed: Wait for price action confirmation before entry
๐ Final Thought: If price holds above support, the next bullish leg could aim for $1.162+. However, a breakdown below $1.065 would invalidate this setup. Stay disciplined and trade with a plan!
