I'm considering a long position in MLNUSDT at a price of $15.55. My analysis suggests that MLN is showing signs of strength, particularly in a ranging market, as it consistently forms higher highs (HH) and higher lows (HL) based on price action.
An important aspect of this analysis is the absence of any bearish divergence, which is a positive signal. This factor supports the potential for an upward trend.
For risk management, I plan to set a stop loss at $14.70, which helps protect against adverse price movements.
As for my target, I'm aiming for a 1:1 risk-reward ratio, with the initial target set at $16.40. It's crucial to stay informed and be aware that the cryptocurrency market can be unpredictable, so conducting thorough research remains essential before making any investment decisions.
An important aspect of this analysis is the absence of any bearish divergence, which is a positive signal. This factor supports the potential for an upward trend.
For risk management, I plan to set a stop loss at $14.70, which helps protect against adverse price movements.
As for my target, I'm aiming for a 1:1 risk-reward ratio, with the initial target set at $16.40. It's crucial to stay informed and be aware that the cryptocurrency market can be unpredictable, so conducting thorough research remains essential before making any investment decisions.
Trade active:
TP 1 HIT 🎯
Trade active:
TP 2 HIT 🎯