TradeCityPro | MEMEUSDT Potential Breakout from the Range Box👋 Welcome to TradeCityPro Channel!
Let’s dive into analyzing our coins in the current market conditions to identify potential triggers before the next move begins.
🌐 Overview Bitcoin
Before starting today’s altcoin analysis, as usual, let’s first check Bitcoin on the 1-hour timeframe. Bitcoin has finally initiated a wave, breaking through the 95753 resistance.
However, I’m not fond of the volume in these recent candles, and it needs to increase. You can consider opening positions upon entering the overbought zone.
Additionally, today saw a short-term wave with some green candles, accompanied by a decline in Bitcoin dominance. Now, as Bitcoin prints green candles, its dominance is also rising, indicating that the next wave moving toward Bitcoin’s peak might come with increased dominance.
📊 Weekly Timeframe
On the weekly timeframe, the altcoin MEME rejected the top of the range and the significant 0.01790 resistance, pushing it back toward the range’s bottom.
The buy trigger hasn’t activated yet, and this rejection has made the trigger even more critical. If you’re interested in buying this altcoin, consider adding it to your mid-term portfolio after breaking 0.01790.
If you’ve already bought at any level on this chart, it’s logical to exit and cut losses if the range’s bottom breaks. A break below 0.00997 would suggest forming new lows, so it’s better to liquidate and look for a fresh trigger later.
📈 Daily Timeframe
On the daily timeframe, following a heavy rejection from the 0.1795 resistance, MEME returned to the range, resulting in continued oscillations within this area.
We must consider that, price-wise, the market is at a logical level for buying. However, time-wise, it might range here for a while before starting a potential upward move. This makes it somewhat reasonable to take small spot risks during these days.
Based on the above, you can make a risky buy at 0.01132, with a stop-loss at 0.00861, after breaking the level. However, personally, I’ll hold onto liquidity for lower levels.
For example, if I have 30% of my funds in cash, any purchases I make here would amount to just 5% overall, assuming stop-losses are hit! For a more logical entry, I’ll monitor for a break above 0.01795.
⏱ 4-Hour Timeframe
On the 4-hour timeframe, MEME has been ranging for days within the 0.01007–0.01139 box. A breakout from either side of this range will provide a clear trigger without bias.
📈 Long Position Trigger
the rejection at the 0.01139 resistance has increased its significance. Once this level breaks, I’ll open a futures long position with a large stop-loss at 0.01.
📉 Short Position Trigger
momentum can be tracked on lower timeframes, and positions can be opened with triggers on these smaller timeframes. The 0.01 support level could be used for a small stop-loss and low-risk, quick profit management.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
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