On this chart which is the 4H the coin retrace back to 618 Fibonacci at $7.2 which whom were the fast traders would have had enter one portion of the position. Those trades can be hold if this coin breaks $8.8 which also open up an opportunity for those who missed out the first entry.
If the price decide to move up breaking the previous high at $8.8, the target can be at the first resistance is at $9.7, and our target at $11.7.
So its always calculated risk and rewards, where in this set up theres $1.6 on the downside and $3.0 on the up side so its about 2:1 (risking of losing one and gainning two).
Note: New entry which break $8.8 area have a stop at $7.2
Feel free to leave a comment. :)
Best of Luck