$LYN is up nearly 18%, but look at what happened before this bounce.
Price climbed to 0.02582, dropped sharply to 0.01818, and has now recovered to around 0.02427. That’s a big move in a short time, and I wouldn’t want to chase it blindly.
Here’s how I’m reading the 15-minute chart:
- Price is above MA(7), MA(25), and MA(99).
- MACD has turned positive, with green bars growing.
- Momentum looks strong after the rebound, but price is approaching the earlier high.
My suggested trade plan:
Long idea: I would wait for a pullback toward 0.0228–0.0230 and see if buyers defend that area. If price holds and then breaks above 0.0245, I’d watch for a move toward 0.0252–0.0258. I’d place the stop below the support that actually holds, rather than choosing one blindly.
Short idea: I wouldn’t short while momentum is this strong. I’d only consider it if price loses 0.0228, then attempts a bounce but fails to reclaim that level. The next area I’d watch is around 0.0218–0.0212.
A sharp recovery can look convincing, but I want to see whether buyers can hold the next pullback before taking a position.
#LYN #BİNANCEFUTURES #CryptoTrading #TechnicalAnalysis
Price climbed to 0.02582, dropped sharply to 0.01818, and has now recovered to around 0.02427. That’s a big move in a short time, and I wouldn’t want to chase it blindly.
Here’s how I’m reading the 15-minute chart:
- Price is above MA(7), MA(25), and MA(99).
- MACD has turned positive, with green bars growing.
- Momentum looks strong after the rebound, but price is approaching the earlier high.
My suggested trade plan:
Long idea: I would wait for a pullback toward 0.0228–0.0230 and see if buyers defend that area. If price holds and then breaks above 0.0245, I’d watch for a move toward 0.0252–0.0258. I’d place the stop below the support that actually holds, rather than choosing one blindly.
Short idea: I wouldn’t short while momentum is this strong. I’d only consider it if price loses 0.0228, then attempts a bounce but fails to reclaim that level. The next area I’d watch is around 0.0218–0.0212.
A sharp recovery can look convincing, but I want to see whether buyers can hold the next pullback before taking a position.
#LYN #BİNANCEFUTURES #CryptoTrading #TechnicalAnalysis
