$STRK USDT - 30m
The first thing that came to my mind when I saw the chart was support. After a sharp drop from the swing high, price is sitting right on the swing low of structure.
The current price is around 0.05245. Price is now near the swing low / discount zone, so the next move from here could be important.
Trade Idea: LONG🟢
Entry : 0.05245
Stop Loss : 0.05088
1TP : 0.05368
2TP : 0.05499
3TP : 0.05679
Why this trade?
In my eyes, there are 3 main things:
Structure: A CHoCH to the downside confirmed the sell-off, and price made lower lows. It is now at the swing low of structure, where a bounce or a liquidity sweep and reversal is possible.
Zone: Price is deep in the discount area, well below the 50% premium zone. The earlier OB Bottom sits above as the first reaction area, and TP3 lines up with the OB Top near 0.0568, the main supply zone.
Momentum: Sellers are still in control, but RSI bounced from the oversold area (38 now) and is curling up against its average. That suggests selling pressure is fading.
So if the price can hold the Entry zone, then there may be an opportunity to move towards TP1.
If TP1 is hit, some profit can be secured and the remaining position can be held for TP2/TP3.
⚠️ Not financial advice. Manage your risk and use proper position sizing.
The first thing that came to my mind when I saw the chart was support. After a sharp drop from the swing high, price is sitting right on the swing low of structure.
The current price is around 0.05245. Price is now near the swing low / discount zone, so the next move from here could be important.
Trade Idea: LONG🟢
Entry : 0.05245
Stop Loss : 0.05088
1TP : 0.05368
2TP : 0.05499
3TP : 0.05679
Why this trade?
In my eyes, there are 3 main things:
Structure: A CHoCH to the downside confirmed the sell-off, and price made lower lows. It is now at the swing low of structure, where a bounce or a liquidity sweep and reversal is possible.
Zone: Price is deep in the discount area, well below the 50% premium zone. The earlier OB Bottom sits above as the first reaction area, and TP3 lines up with the OB Top near 0.0568, the main supply zone.
Momentum: Sellers are still in control, but RSI bounced from the oversold area (38 now) and is curling up against its average. That suggests selling pressure is fading.
So if the price can hold the Entry zone, then there may be an opportunity to move towards TP1.
If TP1 is hit, some profit can be secured and the remaining position can be held for TP2/TP3.
⚠️ Not financial advice. Manage your risk and use proper position sizing.