GFTUSDT trade is primarily based on the strong price action signals of continuously forming higher highs and higher lows. This pattern suggests a persistent bullish trend.
To enter this trade, I'm considering a buy at the price of $0.01710. I've set a stop loss (SL) at $0.01500 to manage risk, providing protection against potential adverse price movements.
The target for this trade is set at $0.01920, offering a 1:1 risk-reward ratio, which means the potential reward matches the risk involved in the trade.
Notably, GFT has recently made a higher high, and the current retracement appears to be establishing a higher low. The price retraced from the 0.5 Fibonacci retracement level, and this retracement is seen as a precursor to forming a new higher high.
It's important to bear in mind that cryptocurrency markets can be highly volatile, so thorough research and vigilance are essential before making any investment decisions.
To enter this trade, I'm considering a buy at the price of $0.01710. I've set a stop loss (SL) at $0.01500 to manage risk, providing protection against potential adverse price movements.
The target for this trade is set at $0.01920, offering a 1:1 risk-reward ratio, which means the potential reward matches the risk involved in the trade.
Notably, GFT has recently made a higher high, and the current retracement appears to be establishing a higher low. The price retraced from the 0.5 Fibonacci retracement level, and this retracement is seen as a precursor to forming a new higher high.
It's important to bear in mind that cryptocurrency markets can be highly volatile, so thorough research and vigilance are essential before making any investment decisions.