$BANANAS31 đ Trade Bias: LONG (Breakout Continuation)
HTF Context: This asset has completed a basing pattern after a significant downtrend. The 4H chart shows a clear breakout above the descending wedge and, crucially, a sustained close above the entire EMA cluster (9-200). This signals a potential major trend shift from bearish to bullish.
Why This Works:
1. Structural Break & Momentum: Price has broken and held above the key 0.00405-0.00415 resistance zone on high volume. The EMA stack is now bullishly aligned on lower timeframes, with price holding above all major moving averagesâa strong trend foundation.
2. Volume & Momentum Confirmation: The breakout was accompanied by a massive volume spike (2.5B+). MACD is positive and rising on the 4H, and RSI is strong but not overbought, suggesting room to run.
3. Market Psych: The crowd is skeptical after a long downtrend. Late shorts and profit-takers from the initial bounce are being forced to cover as price holds strength. Their stops are above the local high near 0.00425, creating a liquidity magnet.
â ïž Entry Zone: 0.00412 - 0.00416 (Pullback into breakout zone & EMA confluence support)
đ Stop Loss: 0.00398 (Below the breakout candle low and EMA(50) support)
â Take-Profit: TP1: 0.00430 | TP2: 0.00445 | TP3: 0.00465
âïž Risk/Reward: 1:4.5
đŁ Invalidation: A 4H close back below 0.00395 (would negate the breakout and suggest a false move).
I'm buying the pullback in a confirmed breakout. The trend structure has flipped. This is about catching the early stages of a new bullish cycle, not chasing a pump.