MEME has the potential to break above the resistance and continue the trend
🔵Entry Zone 0.037531 - 0.039768
🔴SL 0.033451
🟢TP1 0.047080
🟢TP2 0.058800
🟢TP3 0.077000
Risk Warning
Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future...
4h time frame
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Last analysis of MEME pointed out there was a potential cup and handle structure, but fail now. MEME kept going down and retested the neckline zone. So far, MEME is maintaining in a reasonable support zone around 0.033~0.036. Also, MEME just dump and try to make a wick low now, so we can set up a trading plan with great risk to reward ratio...
4h time frame
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MEME is creating a potential Cup and Handle structure since reaching 0.057. Target of this CH is 0.067. Furthermore, according to Fibonacci Projection, there is a projected target from 0.382 to 1.382, which pump momentum will push MEME to 0.067. Structure and Fibonacci both point that 0.067 is the critical resistance, that is 'target...
4h time frame
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MEME is breaking the horizontal resistance with a bottom structure and correcting so far, the support at 0.029 is critical for MEME to create a triangle that is also a potential continuation structure. The critical support is made from structure and 0.5 Fibonacci Projection, that provide an opportunity to set a long trading plan.
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TP: 0.047
SL: 0.027
MEME moved up from the FLIP (DEMAND) range. There is an important FLIP (SUPPLY) resistance in advance of the candles, which will cause price rejection.
When candles FLIP (SUPPLY) we will look for SELL/SHORT trades
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
1. MEMEUSDT respected 0.618 of daily fibs
2. MEMEUSDT formed support on 4 hour.
3. Anticipating level-by-level climb within the 4 hour bulllish channel.
4. 1st TP at minor resistance on the left
5. 2nd and final TP before analysis is invalidated, at structure high.
WDYT?
Next meme stock right here. I wouldn't be surprised on a 300% move by year end due to such high short interest. Disclaimer: I own July and December calls. Do your DD, compelling story here.
insert rocket and moon emojis. Hope everyone catches this move.
