FOR BEGINNERS
#IPUSDT Follow me for the latest info
IPUSDT analysis based on 5 components:
1. Market Structure:
- There was a significant increase from 1.57501 to 2.19362
- There is now a consolidation at the level of 1.88131
- The structure is still bullish but the initial momentum has decreased
2. Psychological Level:
- Level 1.88 is an important psychological level
- There is resistance at 2.00
- Support around 1.80
3. Fibonacci:
- From the swing low of 1.57501 to the high of 2.19362
- The current price is in the retracement area
4. Trendline:
- There is a support trendline formed
- The price is still above MA(7) = 1.86333
- Indicates that the trend is still bullish
5. Candlestick:
- Small candles indicate consolidation
- Volume decreases
- MACD shows that the momentum is weakening
Conclusion:
For now, it is NOT RECOMMENDED to take a position because:
1. In a consolidation phase
2. Volume is decreasing
3. There is no clear signal to buy/sell
4. MACD momentum is weak
Suggestion:
- Wait for a breakout from the consolidation area
- If it breaks above 1.90, you can take a BUY position
- If it breaks below 1.85, you can take a SELL position
- It is better to wait for confirmation with increasing volume
Risk Management:
- If you still want to enter, make sure the SL is tight
- Use smaller leverage
- Wait for a clearer signal