API3USDT is currently demonstrating a bullish divergence on the 1-hour (1H) time frame, indicating a potential bullish reversal. This divergence suggests a weakening of the prevailing bearish momentum and the possibility of a shift toward an upward movement.
For traders considering a position, the following trading strategy is proposed:
Entry: Consider initiating a long position using a Buy Stop order at the price level of 1.6170.
Stop Loss (SL): Implement a risk management Stop Loss order at 1.50.
Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio: TP1 = 1.7370 TP2 = 1.8570
This trading strategy aims to capitalize on the anticipated bullish reversal. However, it is crucial to closely monitor the market for any changes in price action and be prepared to adjust the strategy accordingly.