The price is currently testing the 4-hour resistance level, which could act as a significant barrier for the price to move higher. If the price manages to break above this level and confirm the new uptrend, according to Plancton's rules, a new long position could be taken.
However, it's crucial to keep in mind that the price may face some resistance at the 2.2 area, which is a significant resistance level. Traders should watch for signs of increased buying volume and momentum to confirm the breakout and avoid false signals.
Overall, HOOKUSDT's recent price action indicates a potential bullish move, but traders should wait for the confirmation of the breakout and consider the risk-reward ratio before making any trading decisions.
However, it's crucial to keep in mind that the price may face some resistance at the 2.2 area, which is a significant resistance level. Traders should watch for signs of increased buying volume and momentum to confirm the breakout and avoid false signals.
Overall, HOOKUSDT's recent price action indicates a potential bullish move, but traders should wait for the confirmation of the breakout and consider the risk-reward ratio before making any trading decisions.
Note
12% 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.