Wordmhole trading plan

We have broken through the resistance at $0.26, but the asset remains in a downtrend.

Potential Reversal Scenario

Break and Hold Above $0.3548: A close above $0.3548 on at least the 1-day (1D) timeframe, preferably on the 1-week (1W) timeframe, could indicate a potential trend reversal.

Impulsive Move to FVG Zone $0.45 - $0.61: An even stronger reversal signal would be a rapid, impulsive move into the Fair Value Gap (FVG) between $0.45 and $0.61. From this zone, we can look for corrections into newly formed areas, providing potential long opportunities.

Key Levels to Watch

Support Levels: $0.26 – Previously a resistance, now acting as support.

Resistance Levels:

• $0.3548 – Critical level for potential reversal.
  
• $0.45 - $0.61 – FVG zone indicating significant bullish momentum.
  

Trading Outlook

• Continuing the Downtrend: Trade with the current trend by considering short positions, keeping a stop-loss above $0.3548.
  
• Watching for Reversal Signs: Monitor for a break and sustained trading above $0.3548 on higher timeframes.
  
• Be alert for a quick, impulsive surge into the $0.45 - $0.61 FVG zone for potential long opportunities.
  

🔍 Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency trading involves significant risk. Always conduct your own research before making any investment decisions.