Opening a Big Long position on $G (G/USDT Perpetual):
TP: $0.00432
SL: $0.00365
Entry Price: ~0.00363 (+11.31%)
Reasoning:
Something that stands out about this trade is that after the initial impulsive move, price has held onto its gains. This can be seen by how it has failed to retest the $G has entered a consolidation phase just above the breakout level. Buyers are clearly stepping in to defend the $0.00370-$0.00378 support level.
Historically if we see consolidation occur at strong levels after a large expansion then it shows that bullish momentum is still present.
I will be targeting $0.0043 as my main profit target. This aligns well with the rest of the liquidity above.
TP: $0.00432
SL: $0.00365
Entry Price: ~0.00363 (+11.31%)
Reasoning:
Something that stands out about this trade is that after the initial impulsive move, price has held onto its gains. This can be seen by how it has failed to retest the $G has entered a consolidation phase just above the breakout level. Buyers are clearly stepping in to defend the $0.00370-$0.00378 support level.
Historically if we see consolidation occur at strong levels after a large expansion then it shows that bullish momentum is still present.
I will be targeting $0.0043 as my main profit target. This aligns well with the rest of the liquidity above.
