Hey everyone just taking a quick look at the 4H $NEWT /USDT chart.
We’re seeing a decent short-term recovery after reclaiming the moving averages which is positive
That said, price is now climbing toward a pretty important resistance zone around the 99 MA (0.0500–0.0506)
Chasing this green candle feels risky I’d rather wait for a healthy pullback or a clear breakout.
My Spot Trading Plan
Limit Entry: 0.0483 – 0.0487 USDT
Stop Loss: 0.0464 USDT
Take Profit 1: 0.0506 USDT
Take Profit 2: 0.0525 USDT
Take Profit 3: 0.0550 USDT
(if the momentum stays strong)
NEWT is definitely showing better momentum on the 4H after bouncing back above the short-term MAs
The real test comes at 0.0500–0.0506 where sellers are likely to step in. I prefer setting a limit order around 0.0483–0.0487 instead of FOMOing in
Stop goes below 0.0464 for safety. If buyers hold the support, first target is 0.0506, then 0.0525.
Risk management first don’t chase the heat.
$NEWT
#Newt #Binance
We’re seeing a decent short-term recovery after reclaiming the moving averages which is positive
That said, price is now climbing toward a pretty important resistance zone around the 99 MA (0.0500–0.0506)
Chasing this green candle feels risky I’d rather wait for a healthy pullback or a clear breakout.
My Spot Trading Plan
Limit Entry: 0.0483 – 0.0487 USDT
Stop Loss: 0.0464 USDT
Take Profit 1: 0.0506 USDT
Take Profit 2: 0.0525 USDT
Take Profit 3: 0.0550 USDT
(if the momentum stays strong)
NEWT is definitely showing better momentum on the 4H after bouncing back above the short-term MAs
The real test comes at 0.0500–0.0506 where sellers are likely to step in. I prefer setting a limit order around 0.0483–0.0487 instead of FOMOing in
Stop goes below 0.0464 for safety. If buyers hold the support, first target is 0.0506, then 0.0525.
Risk management first don’t chase the heat.
$NEWT
#Newt #Binance