đ PIPPIN/USDT Long Setup: Bullish Breakout Confirmed! đ
Trading Pair: PIPPIN/USDT (Perpetual)
Direction: LONG đą
Timeframe: 1H
đ Trade Parameters:
Entry Price: CMP (~0.589) or on a slight retest of the 0.575 - 0.588 zone.
Take Profit (TP): 0.7548
Stop Loss (SL): 0.5055
đ§ Trade Logic & Technical Analysis:
1. Resistance Breakout:
Looking at the 1H chart, PIPPIN has just printed a massive bullish breakout. After a period of choppy consolidation and lower lows earlier in the week, the price has surged past a key local resistance level (marked by the dashed blue line near 0.588).
2. Strong Momentum & Volume:
With a 24H change of over +19.33% and strong buying volume stepping in on the recent green candles, the bulls are clearly in control. This kind of explosive upward movement often signals the start of a new localized uptrend.
3. Support Flip:
The previous resistance zone around 0.575 - 0.588 should now act as our primary support. Entering near current levels or on a brief retest of this breakout line offers a solid entry point.
4. Risk Management:
The Stop Loss is safely placed at 0.5055, resting below the recent cluster of swing lows and the base of the consolidation zone. This ensures that if the breakout turns out to be a fake-out, capital is protected. The Take Profit at 0.7548 targets the next major liquidity zone, offering a favorable Risk/Reward ratio for this setup.
Disclaimer: This is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) and use proper risk management!
đŹ What are your thoughts on PIPPIN? Are you riding this wave up? Let me know in the comments! đ
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