The daily/4-hour chart trend is showing early signs of turning bullish after breaking through the previous downward structure. The price has formed a higher high and a higher low, indicating a shift in market structure.
The current entry point is excellent, as the price is consolidating after a strong upward surge. This consolidation phase is occurring above the key 15-minute EMA(25) and EMA(99) moving averages, which have now turned from resistance to dynamic support. The triggering signal is the 15-minute RSI indicator consistently staying above the midpoint of 50, indicating that bullish momentum remains dominant and the pullback strength is weakening. Buying at this position is entering during the first healthy pullback in an uptrend, with lower risk and higher potential returns, as we expect the price to launch again from this support platform to test previous highs.
Executable trade setup (long)
Entry: Market price at 5.786
TP1: 5.885
TP2: 6.000
TP3: 6.140
SL: 5.740
