$INIT showed a strong breakout from the 0.07 range and began to move towards 0.118, making a strong impulse bar. Since then, the price has been consolidating just below the high, making a strong consolidation while still being well above the rising 25 and 99 MAs. This indicates that the buyers are absorbing the supply instead of completely reversing.
Trade Bias: LONG
Entry Zone: 0.1010 – 0.1065
Take-Profit 1: 0.1185
Take-Profit 2: 0.1300
Take-Profit 3: 0.1450
Stop-Loss: 0.0940
Leverage (Suggested): 3–5X
As long as the price stays above the 0.098-0.100 level, a move towards new highs is possible. There will be strong movements after such a strong breakout.