$ME I am optimistic (waiting for the correction to enter)
Don't miss the opportunity, the liquidity is huge and the whales are waiting to seize the upcoming support for a retest of the peak.
Buy trade (Scalp Long)
Entry area: 0.1640 - 0.1690
Targets: 0.1820, 0.1950, 0.2050
Stop loss: 0.1560
Risk management and DYOR. $ME
My logical analysis supported by numbers:
I am currently monitoring the price as it faces temporary selling pressure after a strong rise of 32%. The price is currently below the EMA 7 indicator at 0.1817 which is pushing it to correct downward. However, the open interest is still very high at 50.8 million, which means that the momentum is not over. I am waiting for the strong support area at EMA 25 (around 0.1637) to enter, because the rebound from it will be very strong towards the previous peak of 0.2059. Breaking the level of 0.1560 will invalidate this positive outlook.
What do you think, will we break the peak of $0.20 soon? Share your opinion in the comments.