PUMPUSDT: short setup from daily support at 0.007485

17 Sep

Today, PUMPUSDT.P confirmed the 0.007485 level with a precise test, which is clearly visible on the lower timeframes.
Without this confirmation, the level couldn't be considered strong. Now, we have a clear reference point to work from.
Important! The key is how, when, and from where the price approaches this level.

Key factors for this scenario

• Price void / low liquidity zone beyond level
  
• Volatility contraction on approach
  
• Immediate retest
  
• Closing near the level
  
• Closing near the bar's extreme
  

Of course, we must remember that the asset can reverse and move up sharply at any moment. This scenario should not be ruled out.

17 Sep

Nota

PUMPUSDT: It has moved away from the level significantly. It's quite possible that its rally isn't over, and the level it tested is now acting as support for a move to a new high. I'm continuing to watch; alerts are set.

18 Sep

Nota

PUMPUSDT continues to move within a local channel.
Yesterday, it failed to break the support level and also failed to break the resistance level, although buyers were pushing the price up with considerable strength.

I am expecting a move to one of these levels, leaning towards the support level, as the asset has risen significantly recently, and a correction would be a normal development.

However, if the price consolidates between these levels for a few more days, it would more likely indicate an intention to continue moving higher.

7 hari lalu

Dagangan ditutup: sasaran tercapai

Ideal entry conditions: low volatility and the ability to set a tight stop-loss.
A 5-to-1 risk/reward ratio was achieved.
The asset's decline is currently continuing.