Hi friedns! I expect the pullback after such massive drop. Of course here we can find the nice entry point to open the longs and in this idea I'll explain the preconditions to open a long.
✅First of all look at the big orders which the whales placed to buy more crypto below the local lows of $0.39. It will be the main precondition to open a long.
✅The volume growth confirm you that someone biught a lot of GALA at the bottom. Look at the volume indicator. Do you see how many times the volume growth at the bottom❓ Now i expect the same!
✅The squeeze to the trendline help you to understand the willingness of the whales to push the price higher.
🚩 Bullish BTC helps the GALA at to reach at least it`s firts target.
📊 The targets for the long are the biggest value areas: 1️⃣ $0.51-0.55 2️⃣ $0.59-0.61
✅ Also pay attention to the first value area which close to the trendline. There are pottential reversal area where you can book some profit or close you trade and try to find the best entry to short.
🔥Traders, is this idea was usefull for you? Write in the comments!
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P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
Perhaps Gala goes to $0.02 and if things get nasty, it has a potential to hit $0.006. I know it seems impossible, but those are targets not to forget about.
I know it seems impossible, but those are targets not to forget about.