💡 BONK is trying to find its footing after that sweep.
$BONK — Long 🔥 | Entry Zone: 0.000003 | SL: 0.000003 | TP: 0.000004
Here's the read:
The 1-hour trend is bullish and price is in the discount zone of the dealing range, favoring longs. A bullish change of character just five candles ago broke above 3.564, signaling a potential resumption of the uptrend. This move followed a sweep of buy-side liquidity at 3.564, which often traps sellers before a reversal. Price is currently retesting a fresh bullish order block that formed 18 candles ago, and a minor inducement pullback one candle back may have shaken out weak hands. The nearest open liquidity target is the swing high at 4.194, while a stop below the recent equal lows at 3.209 keeps risk defined.
Keep the stop tight and let the structure play out.
#SmartMoney #CryptoTrading
$BONK — Long 🔥 | Entry Zone: 0.000003 | SL: 0.000003 | TP: 0.000004
Here's the read:
The 1-hour trend is bullish and price is in the discount zone of the dealing range, favoring longs. A bullish change of character just five candles ago broke above 3.564, signaling a potential resumption of the uptrend. This move followed a sweep of buy-side liquidity at 3.564, which often traps sellers before a reversal. Price is currently retesting a fresh bullish order block that formed 18 candles ago, and a minor inducement pullback one candle back may have shaken out weak hands. The nearest open liquidity target is the swing high at 4.194, while a stop below the recent equal lows at 3.209 keeps risk defined.
Keep the stop tight and let the structure play out.
#SmartMoney #CryptoTrading