🔥KAITO target profit - stop loss setup:
Key Levels:
Immediate Support: $1.20
Immediate Resistance: $1.30
Suggested Trading Strategy:
1. Bullish Scenario:
Entry Point: Consider entering a long position if the price breaks above the immediate resistance at $1.30 with strong volume confirmation.
Target Profit: Aim for a target range between $1.35 and $1.40.
Stop-Loss: Set a stop-loss just below the immediate support at $1.20 to manage potential downside risk.
2. Bearish Scenario:
Entry Point: If the price fails to sustain above $1.25 and drops below $1.20, consider a short position.
Target Profit: Look for a decline towards the next support level around $1.15.
Stop-Loss: Place a stop-loss above $1.30 to protect against unexpected upward movements.