#MarketRebound $KAITO The pattern I see on the KAITO/USDT chart is a **Descending Triangle**.
Here's why:
* **Descending Trendline:** There's a downward sloping trendline connecting a series of lower highs. * **Horizontal Support:** There's a relatively horizontal support level that the price is testing.
**Additional Observations:**
* Price is currently around 1.9477. * MACD is showing a bearish signal. * RSI is below 50, indicating bearish momentum.
**Trading Strategy (Potential Short Trade):**
1. **Wait for Breakdown:** Observe if the price breaks decisively below the horizontal support level with increased volume. 2. **Enter Short:** If the breakdown is confirmed, enter a short position below the support level. 3. **Set Stop-Loss:** Place a stop-loss order above the descending trendline or a recent high. 4. **Target Profit:** Estimate a profit target based on the height of the triangle pattern projected downwards from the breakdown point.
I buy on 2.6 and just go in completely loss tell sme thing about this coin
adwivedi4004
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š KAITO/USDT ā Ready for a Bounce? š„ š
š¹ Long Entry: 2.02 - 2.03 USDT (Near current support) šÆ Take Profit Targets:
TP1: 2.08 USDT ā
TP2: 2.14 USDT ā
TP3: 2.22 USDT š
š Stop Loss: 1.98 USDT (Below recent low)
š Market Sentiment: š» Price is down -12.78%, but holding near 1.9880 support š EMA(7) & EMA(25) Converging ā Potential for trend reversal š Risk-to-Reward Ratio: Favorable setup for scalpers & swing traders
ā ļø Warning: šø Trend is still weak, wait for bullish confirmation before entering! šø Use risk management ā Crypto is volatile!
š„ Will KAITO bounce back? Letās ride the wave! šš°
Let me know if you want any modifications! š #USCryptoReserve #MarketRebound #CZ'sTokenModelIdea #CMEsolanaFutures #KAITO $KAITO
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