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📌 Entrance area:
🔹 0.001500 - 0.001550
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🎯 Objectives:
✅ First target: 0.001600
✅ Second goal: 0.001680
✅ Third goal: 0.001750
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🛑 Stop loss:
🔻 0.001450
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📊 Technical analysis:
🔸 Cheems is showing a strong uptrend after bouncing off the bottom at 0.001370.
🔸 The Relative Strength Index (RSI = 72.17) indicates that the pair has entered the overbought zone, which requires caution regarding an imminent correction.
🔸 The MACD is positive and confirms strong upward momentum.
🔸 Trading volume is steadily rising, indicating increased market interest and strong buyer entry.
💡 Ascension confirmation:
A clear break above 0.001554 (current high) will boost the chances of reaching 0.001750 in the next few days.
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📢 Risk Management:
✔️ Take partial profits at each target to secure your winnings.
✔️ Move the stop loss to the entry point after the first target is achieved.
✔️ Stability above 0.001500 supports the continuation of the upward trend, while a break of 0.001450 may indicate a weakening in the upward momentum or the beginning of a correction.
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My opinion:
The trend is clearly bullish, but the price is close to its 24-hour high and the RSI is reaching high levels, which warrants caution. Enter cautiously with strict risk management, or wait for a slight correction and enter at a better price.
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