Let's take a look at the status of the $MUBARAK coin on the 1-hour timeframe 🧐
- I lean toward the bullish scenario here; price structure on the timeframes (1-hour, daily, and weekly) is aligned and supports the upward trend, with rising open interest (OI) and market order flow (taker flow) dominated by buyers to support long positions. However, this move still goes against the broader bearish trend for Bitcoin (BTC), so I prefer to wait for clearer confirmation before adding positions.
- I expect an initial attempt to test liquidity at the latest swing-high around 0.06223, followed by a push toward 0.06432, then 0.06990 if price holds.
- My preferred entry area is a pullback into the demand / fair value gap (FVG) zone between 0.05980 and 0.05460; wait for a "liquidity sweep" below a local low, and the appearance of a bullish engulfing candle or a "Pin bar" candle, along with a change in market structure on a smaller timeframe before entering.
- Take-profit levels in order: 0.06223, then 0.06432, then 0.06990.
- Place the protective order (stop loss) behind a price-structure turning point or the most recent confirmed low; a close below 0.05090 will change my view to bearish.
$MUBARAK #MUBARAK #memecoins
- I lean toward the bullish scenario here; price structure on the timeframes (1-hour, daily, and weekly) is aligned and supports the upward trend, with rising open interest (OI) and market order flow (taker flow) dominated by buyers to support long positions. However, this move still goes against the broader bearish trend for Bitcoin (BTC), so I prefer to wait for clearer confirmation before adding positions.
- I expect an initial attempt to test liquidity at the latest swing-high around 0.06223, followed by a push toward 0.06432, then 0.06990 if price holds.
- My preferred entry area is a pullback into the demand / fair value gap (FVG) zone between 0.05980 and 0.05460; wait for a "liquidity sweep" below a local low, and the appearance of a bullish engulfing candle or a "Pin bar" candle, along with a change in market structure on a smaller timeframe before entering.
- Take-profit levels in order: 0.06223, then 0.06432, then 0.06990.
- Place the protective order (stop loss) behind a price-structure turning point or the most recent confirmed low; a close below 0.05090 will change my view to bearish.
$MUBARAK #MUBARAK #memecoins
