The instrument has globally exited the accumulation zone. Today, there was a momentum on which greedy long traders were punished with a 15% decrease without leverage. The price has returned to the zone from where the growth started and stopped. Locally, the buyer starts to hold the level of 3.70, and short liquidity is forming above. The price is not far from a strong zone, so it’s comfortable to work with adding to the position in case of manipulations. Another thing to note is that the instrument is capable of drawing big moves, and today it can be assumed this was a rehearsal before the altcoin season.
❗️ I’m working with adding to the position in case of manipulations to shake out longs.
📌 Setup settings:
🟢 Entry: 3.700 at market for 0.5% of the futures account deposit
❗️ Adding to the position: 3.400 for 1% of the futures account deposit
⛔️ Stop loss: 3.30 (I’m working with adding). For those who work with a stop, there’s a cancellation of formation and those who don’t want to experience a drawdown can leave the setup.
🏹 Targets:
✅ Target 1: 3.9900
✅ Target 2: 4.2400
✅ Target 3: 4.5900
✅ Target 4: 4.9900