📊 General Technical Analysis $GRIFFAIN
Trend: * Long-term (1 Week/1 Day): After a strong drop from the peak of 0.64, the price has entered a very deep accumulation bottom.
Short-term (1H/4H): There is a strong recovery happening. The price has broken above the EMA (50 and 100) lines, indicating that buying pressure is returning.
MACD Indicator: On the 1H and 4H frames, MACD is showing a bullish divergence signal and is above the 0 line, with the green Histogram column indicating good growth momentum.
RSI Indicator: RSI (6) is at a high level (around 65-72) on the short-term frames. This indicates strong buying pressure but also warns that the price may have slight corrective movements (retest) before continuing to rise.
Price Structure: The price has just broken the psychological resistance zone around 0.0090 and is trying to maintain above this level.
🚀 Trading Plan
Based on the price being in a recovery cycle from the bottom, the current preferred strategy is LONG (Buy up) when the price corrects to support areas.
Order: LONG GRIFFAIN/USDT x10 (Perpetual)
Entry Zone: 0.00930 - 0.00960 (Wait for the price to slightly correct to the EMA50 range on the 15p or 30p frame to optimize the position).
Take Profit - TP:
TP1: 0.01045 (The old peak just established).
TP2: 0.01150 (Next resistance on the 1H frame).
TP3: 0.01350 (Medium-term target area).
Stop Loss - SL: 0.00880 (Below the EMA100 line on the 1H frame and below the candle bottom leading the growth).
⚖️ Risk/Reward Ratio (R:R)
Expected R:R: About 1 : 2.5 to 1 : 4 depending on your take profit point.
⚠️ Important note from the expert:
Status: If the price closes the 1H candle below 0.00880, the short-term bullish structure is broken, and you should strictly adhere to the SL.