Based on the 1-hour chart for BERAUSDT, here’s a potential trade setup:
Trade Setup (Long Position)
Entry:
• The price recently bounced from $5.775 (local low) and is now trading around $6.087.
• The 7-period MA (yellow) is crossing above the 25-period MA (pink), signaling short-term bullish momentum.
• Enter a long trade at or near $6.08 - $6.10, ideally on a slight pullback.
Stop Loss:
• Below the previous low at $5.75, around $5.73, to allow some buffer.
Take Profit (TP) Targets:
1. $6.21 (recent resistance)
2. $6.30 - $6.33 (previous highs)
Risk-to-Reward Ratio:
• With an entry around $6.08 and a stop loss at $5.73, the risk is $0.35 per unit.
• If TP1 is $6.21, the reward is $0.13 (not ideal, 1:1).
• If TP2 is $6.30, the reward is $0.22, giving a better risk-reward ratio (~1:2).
Confirmation Factors:
• Volume is increasing, suggesting momentum.
• The Moving Averages suggest an uptrend continuation.
• If the price consolidates above $6.08, it strengthens the bullish case.