In the name of God, we put our trust in God ๐
AKE/USDT under the microscope ๐ - A near-the-bottom buying opportunity [SPOT only]
๐ Technical overview:
โข Price action: The price is attempting to stabilize and move sideways after rebounding from the recent low of 0.019118. The current price is 0.023567 (+4.45%). It is facing resistance from the moving averages and needs to break and hold above 0.02550 to confirm a bullish reversal.
โข Indicators (RSI & MACD): Downward momentum on the MACD has weakened noticeably, with the red histogram bars getting shorter. Meanwhile, the RSI has started to curve upward and is holding at (41.69), pointing to the early stages of smart-money accumulation near the bottom.
๐ฏ Strategic trading plan (enter in stages):
โข Buy (Stage 1): Enter with a small position at the current price of 0.023567 to take advantage of the bottoming accumulation phase.
โข Buy (Stage 2): Add to the position with limit orders at the nearby support of 0.02150, or after a confirmed break above the moving averages and a close above 0.02550.
โข Target 1: 0.02730 ๐ฅ (Expected profit: +15.8%) - [Probability of reaching: 80%]
โข Target 2: 0.03250 ๐ฅ (Expected profit: +37.9%) - [Probability of reaching: 60%]
โข Target 3: 0.03770 ๐ฅ (Expected profit: +59.9%) - [Probability of reaching: 40%]
โข Strict stop-loss: A break below the recent low, followed by a 4-hour candle closing below 0.019118.
๐ก Sticking to risk management, dividing your capital, and being patient are key to staying in the market and succeeding.
$AKE #AKE #CryptoAnalysis #TechnicalAnalysis #BinanceSquare $AKE
AKE/USDT under the microscope ๐ - A near-the-bottom buying opportunity [SPOT only]
๐ Technical overview:
โข Price action: The price is attempting to stabilize and move sideways after rebounding from the recent low of 0.019118. The current price is 0.023567 (+4.45%). It is facing resistance from the moving averages and needs to break and hold above 0.02550 to confirm a bullish reversal.
โข Indicators (RSI & MACD): Downward momentum on the MACD has weakened noticeably, with the red histogram bars getting shorter. Meanwhile, the RSI has started to curve upward and is holding at (41.69), pointing to the early stages of smart-money accumulation near the bottom.
๐ฏ Strategic trading plan (enter in stages):
โข Buy (Stage 1): Enter with a small position at the current price of 0.023567 to take advantage of the bottoming accumulation phase.
โข Buy (Stage 2): Add to the position with limit orders at the nearby support of 0.02150, or after a confirmed break above the moving averages and a close above 0.02550.
โข Target 1: 0.02730 ๐ฅ (Expected profit: +15.8%) - [Probability of reaching: 80%]
โข Target 2: 0.03250 ๐ฅ (Expected profit: +37.9%) - [Probability of reaching: 60%]
โข Target 3: 0.03770 ๐ฅ (Expected profit: +59.9%) - [Probability of reaching: 40%]
โข Strict stop-loss: A break below the recent low, followed by a 4-hour candle closing below 0.019118.
๐ก Sticking to risk management, dividing your capital, and being patient are key to staying in the market and succeeding.
$AKE #AKE #CryptoAnalysis #TechnicalAnalysis #BinanceSquare $AKE
