Entry Strategy:
Entry Price: Consider entering at $0.71, just below the current price, as it aligns with the Fibonacci pivot level and provides a reasonable risk-reward ratio.
Leverage: With 20X leverage, ensure strict risk management due to the amplified potential for both gains and losses.
Target and Stop Loss:
Target Price: Set your first target at $0.7310 (R1), aligning with the Fibonacci resistance level.
Stop Loss: Place your stop loss at $0.6821, just below the recent low, to protect against a potential reversal.
Risk Management:
With 20X leverage, even small price movements can result in significant losses. Ensure you have a clear risk management plan, including position sizing and stop-loss levels.