Dec. 10 at 4:34 AM
$RSI: Current market context indicates an overbought condition with an RSI of 77.56, suggesting a potential pullback. However, the price is above the MA30 (17.66) and MA50 (18.23), indicating bullish momentum. The 60D high of 22.65 provides a key resistance level, while the 60D low of 16.1 offers support.
Directional bias remains bullish, but caution is warranted due to the high RSI. Suggested entry is at
$19.00, with a stop loss at
$18.50 to limit downside risk.
Take Profit Targets:
1. TP1 at
$20.00 (5.26% gain)
2. TP2 at
$21.00 (10.42% gain)
3. TP3 at
$22.50 (17.66% gain)
This plan allows for a strategic exit while managing risk effectively. Monitor the price action closely, as a reversal could occur given the overbought conditions.
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