PYTHUSDT is exhibiting a bullish divergence
on the 4-hour timeframe, suggesting a
potential reversal in the prevailing downtrend.
Furthermore, the price has successfully
breached its lower high level and established a
higher high, indicating a strengthening bullish
momentum.
Based on this analysis, a trading strategy can
be outlined as follows:
Entry: Consider entering a long position at the
current market price of $0.4700
Stop Loss (SL): Place a stop loss order at
$0.3540 to manage risk and mitigate potential
losses
Take Profit (TP): Set take-profit levels to
achieve a 1:1, 1:2 risk-reward ratio:
TP1: Set the first take-profit level at $0.5860
TP2: Aim for the second take-profit level at
$0.7090
This trading strategy anticipates a bullish
reversal based on the identified bullish
divergence and the breakout above the lower
high level.
on the 4-hour timeframe, suggesting a
potential reversal in the prevailing downtrend.
Furthermore, the price has successfully
breached its lower high level and established a
higher high, indicating a strengthening bullish
momentum.
Based on this analysis, a trading strategy can
be outlined as follows:
Entry: Consider entering a long position at the
current market price of $0.4700
Stop Loss (SL): Place a stop loss order at
$0.3540 to manage risk and mitigate potential
losses
Take Profit (TP): Set take-profit levels to
achieve a 1:1, 1:2 risk-reward ratio:
TP1: Set the first take-profit level at $0.5860
TP2: Aim for the second take-profit level at
$0.7090
This trading strategy anticipates a bullish
reversal based on the identified bullish
divergence and the breakout above the lower
high level.