$CTSI Overbought Surge: 4H Trading Strategy with RSI AlertBINANCE:CTSIUSDT
Trading Levels:
Entry: 1.00 (0.1215 USDT) - The level where the initial purchase is planned.
DCA (Dollar-Cost Averaging): 1.135 (0.1293 USDT) - An additional buying point if the price rises.
SL (Stop Loss): 1.272 (0.1373 USDT) - The level where the loss would be limited.
TP (Take Profit):TP1: 0.786 (0.1091 USDT)
TP2: 0.618 (0.0994 USDT)
TP3: 0.5 (0.0925 USDT)
TP4: 0 (0.0636 USDT) - A significantly lower target, possibly a long-term goal or error.
RSI (Relative Strength Index) Indicator:
The current RSI value is 87.80, which is deeply in the overbought territory (above 70 and nearing 90). This suggests the price may be overextended, indicating a potential reversal or correction soon.
Analysis and Interpretation:
Strategy: The chart uses Fibonacci levels to determine entry, exit, and loss points. The entry is set at 0.1215 USDT, with a DCA at 0.1293 USDT if the price continues to rise, and a stop loss at 0.1373 USDT to protect capital.
Profit Targets: TP1 to TP3 are based on Fibonacci retracement levels (0.786, 0.618, 0.5), indicating a technical approach to taking profits incrementally. TP4 at 0.0636 USDT seems unrealistically low and might be a mistake.
RSI: The extremely high RSI value (87.80) signals a strong overbought condition. This could imply an imminent pullback or consolidation, especially if the price fails to sustain its recent upward momentum.
Recommendation:
Monitor the price closely around the entry level (0.1215 USDT) and DCA (0.1293 USDT). Given the overbought RSI, exercise caution with new entries or consider preparing for a potential sell-off.
Ctsiusdtshort
#CTSI/USDT TRADE SETUP Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as financial advice.
CTSI/USDT TRADE SETUP:- CTSI is Breaking out from the triangle and currently retesting it. Long now and add more in the dip.
Entry range:- $0.23-$0.235
Target:- 15-20%
SL:- $0.2232
Lev:- 10x-20x
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you