$INIT Trade Update.
The signal we previously shared did not receive confirmation, so no entry was taken.
As I explained in my previous posts, let's take a look at the bigger picture on the 4H timeframe.
INIT is currently breaking out of an important level, which could lead to further bullish momentum. The coin has also touched a new all-time high, reaching 0.28849 on a 4H candle.
Currently, the price is trading around the 0.24–0.25 zone.
In my opinion, this is a good time to consider taking profits and staying cautious. The way this coin has moved up, it could also see a sharp move downward. However, identifying the exact downside levels is difficult at this point.
If you are still considering a short position, make sure to wait for proper confirmation before entering.
The signal we previously shared did not receive confirmation, so no entry was taken.
As I explained in my previous posts, let's take a look at the bigger picture on the 4H timeframe.
INIT is currently breaking out of an important level, which could lead to further bullish momentum. The coin has also touched a new all-time high, reaching 0.28849 on a 4H candle.
Currently, the price is trading around the 0.24–0.25 zone.
In my opinion, this is a good time to consider taking profits and staying cautious. The way this coin has moved up, it could also see a sharp move downward. However, identifying the exact downside levels is difficult at this point.
If you are still considering a short position, make sure to wait for proper confirmation before entering.
