Daily/4-hour trend is bullish, the current price movement is consolidating above a key support level.
The 4-hour chart shows a potential bullish continuation structure, with the price seemingly bottoming after a pullback. On the 15-minute chart, the price is consolidating narrowly below the key EMA(25) and EMA(99) moving averages, indicating that momentum is building up. The return of bullish momentum will depend on whether the price can break through and hold above the EMA(99) (approximately 2.983).
The trigger condition for this bullish entry is when the 15-minute RSI indicator decisively crosses above the 50 midline. This signal indicates that short-term momentum is shifting from bearish to bullish. If the price can simultaneously recover the key EMA moving averages, it will further confirm the bullish momentum. The current reason for entry is that we are capturing a potential breakout from a consolidation range. With a bullish backdrop on higher time frames, the probability of price rebounding from recent lows is high. Selling pressure seems to be weakening, and the RSI indicator also shows signs of bottoming, providing the possibility for a momentum reversal. The stop loss can be set below the recent volatility low, offering an attractive risk-reward ratio.
Actionable Setup Now (Bullish)
Entry: Market price 2.960
TP1: 3.000
TP2: 3.050
TP3: 3.150
Stop loss: 2.915
