$MU GAINS 2.7% WITH FRESH 4H BULLISH DIVERGENCE: CAN PRICE BREAK ABOVE $939?
$MU is showing promising bullish momentum, gaining 2.7% while demonstrating relative strength against Bitcoin. With a bullish 1H structure and a fresh 4H divergence, traders are watching whether buyers can overcome the resistance standing directly ahead.
Market Structure and Relative Strength
My bias remains bullish. MU continues to print higher highs and higher lows on the 1H timeframe, while BTC also maintains a bullish short-term structure. The fresh 4H bullish divergence against BTC adds confidence to the continuation thesis, although confirmation is still required.
Critical Resistance Zone
Price is testing the 932.86–939.14 resistance area after sweeping the previous high near 932 and filling a nearby 1H fair value gap. A strong 1H close above 939.14 could open the door toward the next resistance at 959.50.
However, rejection here could trigger a temporary pullback before another attempt.
Potential Long Entry Zones
The first demand zone is 900.88–901.11, where previous breakout support and FVG confluence may attract buyers. Watch for a bullish engulfing candle, rejection wick, or 5M–15M market structure shift before considering entry.
Deeper support lies near 885.85, followed by the 873.28–871.60 demand zone. A liquidity sweep and strong reclaim could offer another potential setup.
Targets and Invalidation
First objective: 932.86–939.14.
Second objective: 959.50.
Risk protection requires careful planning. A 1H close below 906.21 would invalidate the current bullish thesis, although this level sits below the first entry zone and requires a clear position-sizing strategy.
Derivatives Flow Check
Open interest is $162.5M, down 4.7% over 24 hours. Funding is +0.0006%, and the taker ratio is 1.13x. A reported $95K sell over approximately four minutes warrants monitoring but does not independently establish a bearish reversal.
Avoid chasing resistance. Wait for confirmation and manage risk.
Not investment advice.
#MU #CryptoTrading #TechnicalAnalysis $MU
$MU is showing promising bullish momentum, gaining 2.7% while demonstrating relative strength against Bitcoin. With a bullish 1H structure and a fresh 4H divergence, traders are watching whether buyers can overcome the resistance standing directly ahead.
Market Structure and Relative Strength
My bias remains bullish. MU continues to print higher highs and higher lows on the 1H timeframe, while BTC also maintains a bullish short-term structure. The fresh 4H bullish divergence against BTC adds confidence to the continuation thesis, although confirmation is still required.
Critical Resistance Zone
Price is testing the 932.86–939.14 resistance area after sweeping the previous high near 932 and filling a nearby 1H fair value gap. A strong 1H close above 939.14 could open the door toward the next resistance at 959.50.
However, rejection here could trigger a temporary pullback before another attempt.
Potential Long Entry Zones
The first demand zone is 900.88–901.11, where previous breakout support and FVG confluence may attract buyers. Watch for a bullish engulfing candle, rejection wick, or 5M–15M market structure shift before considering entry.
Deeper support lies near 885.85, followed by the 873.28–871.60 demand zone. A liquidity sweep and strong reclaim could offer another potential setup.
Targets and Invalidation
First objective: 932.86–939.14.
Second objective: 959.50.
Risk protection requires careful planning. A 1H close below 906.21 would invalidate the current bullish thesis, although this level sits below the first entry zone and requires a clear position-sizing strategy.
Derivatives Flow Check
Open interest is $162.5M, down 4.7% over 24 hours. Funding is +0.0006%, and the taker ratio is 1.13x. A reported $95K sell over approximately four minutes warrants monitoring but does not independently establish a bearish reversal.
Avoid chasing resistance. Wait for confirmation and manage risk.
Not investment advice.
#MU #CryptoTrading #TechnicalAnalysis $MU