💡 Strategic trading plan
The strategy is to take advantage of momentum for those holding, and look for a correction or entry point at a clear rebound for newcomers, with an immediate and tight stop loss.
🎯 Potential price targets and buy/sell areas
• Suggested buy areas (support):
It is difficult to determine a stable support after this sharp rise, but the psychological support area and re-test of the breakout is between $0.07000 and $0.07300.
• Near-term price target (initial resistance):
The initial target is to test the nearby peak and break the 0.08000 dollar barrier.
• Strategic target (extension):
If buying strength continues, strategic targets can reach 0.08500 dollars and then 0.09000 dollars.
• Suggested selling areas:
Profit-taking orders should be placed at any psychological or technical resistance, especially around 0.08000 dollars and above.
🧭 Scenario goals and trader recommendations
1. Bullish scenario (what will happen to the currency):
The currency is expected to continue testing new peaks as long as it remains above 0.07300 dollars, thanks to the current momentum.
2. Bearish scenario:
If the price breaks the 0.07000 dollar level, a deep and sharp correction is likely to begin to end the upward wave, which may reach 0.06500 dollars.
3. Recommendations for traders:
Beware of late entry. It is highly recommended to use a tight stop loss below 0.06800 dollars. If you are not in the trade, it is better to wait for a correction or confirmation of the continuation of the rise with a strong breakout candle.
