- Resistance Break: We've already witnessed two potential breakouts around the $0.3725 resistance level.
- Pullback: A price pullback is likely, potentially dipping to the $0.3500-$0.3600 range. This is a normal and healthy consolidation phase after a breakout.
- Break Confirmation: The final confirmation comes when the price surpasses the previous high and a one-hour candle closes above that level. This signifies a successful breakout and a potential entry point for a long trade.
Trading with the Trend:
This analysis suggests a potential opportunity for a long trade if the breakout is confirmed. However, remember:
- This is for informational purposes only and not financial advice.
- Do your own research before making any trades.
- Consider using stop-loss orders to manage risk.
Good Luck
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