$US ๐ช
$US surging with 3.7x buy volume spike, can it sustain?
- This kind of explosive volume and price rise is very often accumulation by smart money. If the price can decisively break and hold above 0.022866, I expect further upside towards 0.023195 and possibly 0.024641 ๐
- Long entries are justified if you see a retest of 0.022866 acting as support, combined with a bullish engulfing or pin bar confirmation, or if you spot a continuation pattern forming on lower timeframes
- Example confirmation: If you see a quick wick below 0.022866 (liquidity sweep) followed by strong buying, or a bullish engulfing on the 5 min or 1 min chart, that's a good long trigger. Alternatively, a trend continuation flag or consolidation above 0.022866 is also a good signal to enter
- Take partials at 0.023195, and let runners go to 0.024641. Stop should be below a major swing low such as 0.022429 or 0.021510, wherever the structure would invalidate the bullish setup
- If price drops back below 0.022429 with high volume and closes below, step aside and reconsider longs, as this would suggest the move was a trap and further downside is likely
- If you miss the breakout, look for another sweep down to 0.021510โ0.020918 for a possible accumulation and reversal long setup
๐ This is not investment advice, just an educational report. Trade safely and always wait for confirmation before entering on big spikes like this!
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#US