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📌 Entry Area:
🔹 0.005200 - 0.005600
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🎯 Targets:
✅ First Target: 0.005800
✅ Second Target: 0.006000
✅ Third Target: 0.006300
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🛑 Stop Loss:
🔻 0.004900
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📊 Technical Analysis:
🔸 TURBO shows a strong rebound from the bottom at 0.004218, indicating strong buyer entry.
🔸 The Relative Strength Index (RSI = 86.38) indicates an overbought condition, meaning a short-term correction is likely.
🔸 The MACD indicator shows a recent bullish crossover, supporting the continuation of positive momentum in the short term.
🔸 Trading volume has seen a significant jump, which enhances the likelihood of continued upward movement as long as there is no sudden selling pressure.
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💡 Confirmation of Uptrend:
A clear breakthrough of the level 0.005985 will enhance the chances of reaching 0.0063 and possibly higher.
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📢 Risk Management:
✔️ Take a portion of profits at each target to ensure risk reduction.
✔️ Move the stop loss to the entry point after reaching the first target.
✔️ Breaking the level of 0.004900 may indicate the beginning of a deeper correction or a reversal in trend.
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My Opinion:
The current trend is clearly upward, but the very high RSI indicates a need to be cautious of a near correction. If you are in the trade, consider gradually taking some profits. If you are out of the market, it may be better to wait for a slight correction before entering.