$HIGH is up 10%, and this time it's not just a rebound, it's a breakout.
Looking at the daily chart, the 0.078-0.080 range has capped the overall price for almost a month, but last night we saw a solid bullish candlestick that broke through. The trading volume was 2.3 times higher than the past 7 days.
On the fundamentals, this rally is accompanied by clear news catalysts. Also, pay attention to a detail—after the price surged, it didn't drop quickly but oscillated in a narrow range between 0.084-0.086 for 6 hours, indicating that there are buyers stepping in.
Historically, this pattern has a win rate of about 65%-70%. But the key is that in the next 24 hours, we must not see a volume drop below 0.080, or it will be a false breakout.
In terms of trading strategy, hold positions above the breakout point of 0.080, and set a stop-loss if it drops below 0.078. The initial target is around 0.095.
Looking at the daily chart, the 0.078-0.080 range has capped the overall price for almost a month, but last night we saw a solid bullish candlestick that broke through. The trading volume was 2.3 times higher than the past 7 days.
On the fundamentals, this rally is accompanied by clear news catalysts. Also, pay attention to a detail—after the price surged, it didn't drop quickly but oscillated in a narrow range between 0.084-0.086 for 6 hours, indicating that there are buyers stepping in.
Historically, this pattern has a win rate of about 65%-70%. But the key is that in the next 24 hours, we must not see a volume drop below 0.080, or it will be a false breakout.
In terms of trading strategy, hold positions above the breakout point of 0.080, and set a stop-loss if it drops below 0.078. The initial target is around 0.095.