TLM/USDT (4H)
$TLM has cleared its recent range and is now testing the 24-hour high around 0.00293.
The move is backed by strong volume, and price is holding above the 7, 25 and 99 MAs, so the trend is still intact.
The only concern is that the rally has been very steep. After a 50%+ move, I wouldn't be buying into a large green candle.
I'd rather see either a pullback toward 0.00260-0.00270 where buyers step back in, or a clean 4H close above 0.00293 before looking for continuation.
Trade idea
Entry: 0.00260-0.00270 on a pullback, or above 0.00293 after confirmation.
Stop: 0.00225 below the recent swing low.
Targets: 0.00320, 0.00350 and 0.00400.
For futures, I'd keep leverage low (2x-3x). Volatility is elevated, and a normal retracement could easily wipe out an overleveraged position.
My view: The trend is still bullish, but I'd rather wait for the market to come to me than chase the current move.
$TLM has cleared its recent range and is now testing the 24-hour high around 0.00293.
The move is backed by strong volume, and price is holding above the 7, 25 and 99 MAs, so the trend is still intact.
The only concern is that the rally has been very steep. After a 50%+ move, I wouldn't be buying into a large green candle.
I'd rather see either a pullback toward 0.00260-0.00270 where buyers step back in, or a clean 4H close above 0.00293 before looking for continuation.
Trade idea
Entry: 0.00260-0.00270 on a pullback, or above 0.00293 after confirmation.
Stop: 0.00225 below the recent swing low.
Targets: 0.00320, 0.00350 and 0.00400.
For futures, I'd keep leverage low (2x-3x). Volatility is elevated, and a normal retracement could easily wipe out an overleveraged position.
My view: The trend is still bullish, but I'd rather wait for the market to come to me than chase the current move.