$GMX USDT Long (trendline continuation)
Price is ~8.512 on the 15m chart, in a clean uptrend (HL, then HH at ~8.60) riding the rising trendline, which currently sits around 8.40-8.45. Key resistance is 8.707, and 8.255 is the support level that held on the last pullback.
Entry: 8.42-8.48 on a pullback to the trendline that holds (bullish 15m candle), or a safer entry on a 15m close above 8.62 (new HH)
Stop loss: 8.25 (below the trendline and the 8.255 support)
TP1: 8.62 (HH)
TP2: 8.707 (resistance)
TP3: 8.90 (only if 8.707 breaks with volume)
Notes:
Structure is bullish: higher lows along the trendline and a fresh HH, with the 8.255 level acting as a base. Price is near the HH and just rejected from it, so don't chase. Wait for the trendline retest or a breakout close. Skip the trade if a 15m candle closes below 8.25; that breaks both the trendline and support. The 15m timeframe is noisy. Risk 1% or less and keep leverage low (3-5x).
Not financial advice.
@Binance Square Official #BitcoinReboundsTo$83K #EthereumLiquidationsHit$356M #BitcoinETFsSee$244MNetOutflows #Binance #ChartSniper
Price is ~8.512 on the 15m chart, in a clean uptrend (HL, then HH at ~8.60) riding the rising trendline, which currently sits around 8.40-8.45. Key resistance is 8.707, and 8.255 is the support level that held on the last pullback.
Entry: 8.42-8.48 on a pullback to the trendline that holds (bullish 15m candle), or a safer entry on a 15m close above 8.62 (new HH)
Stop loss: 8.25 (below the trendline and the 8.255 support)
TP1: 8.62 (HH)
TP2: 8.707 (resistance)
TP3: 8.90 (only if 8.707 breaks with volume)
Notes:
Structure is bullish: higher lows along the trendline and a fresh HH, with the 8.255 level acting as a base. Price is near the HH and just rejected from it, so don't chase. Wait for the trendline retest or a breakout close. Skip the trade if a 15m candle closes below 8.25; that breaks both the trendline and support. The 15m timeframe is noisy. Risk 1% or less and keep leverage low (3-5x).
Not financial advice.
@Binance Square Official #BitcoinReboundsTo$83K #EthereumLiquidationsHit$356M #BitcoinETFsSee$244MNetOutflows #Binance #ChartSniper