AXL/USDT: MAJOR ASCENDING CHANNEL - 85% PROFIT POTENTIAL SETUP

20 de dez. de 2024

Technical Analysis: 🎯
- Trading within a strong ascending channel since August 2024
- Current price: 0.7145 USDT
- Price retesting major channel support - prime entry zone

Entry Strategy:
✅ Strategic Entry: 0.7007 USDT
- Perfect channel support confluence
- Higher lows pattern maintained
- Volume profile showing accumulation signs

Target Projection:
🎯 Primary Target: 1.3114 USDT (87% ROI potential)
- Channel resistance alignment
- Historical resistance zone
- Clear upward trajectory within channel

Risk Management (CRITICAL):
⚠️ Stop Loss: -4% below entry
- Protected by channel support
- Clear invalidation level
- Impressive 1:21.75 Risk-Reward ratio

Key Technical Factors:
- Ascending channel providing clear direction
- Multiple touches validating channel strength
- Price action showing healthy pullback to support
- Volume confirming key reversals at support

Trading Plan:
1. Enter at 0.7007 USDT
2. Stop loss at -4% for capital protection
3. Partial profits recommended at channel midpoint
4. Final target at upper channel resistance

⚠️ Important Notes:
- Channel trades require patience
- Watch for bullish confirmation at entry
- Volume confirmation crucial
- Always use proper position sizing

🔔 Remember:
- DYOR (Do Your Own Research)
- Risk management is crucial
- Market conditions can change
- Follow your trading plan strictly

#TechnicalAnalysis #AXL #Crypto #SpotTrading #ChannelTrading #CryptoTrading

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