#NFB/USDT Forming Descending Channel #NFB
The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is heading for a strong breakout and retest.
We have a bearish trend on the RSI indicator that is about to be broken and retested, supporting the upside.
There is a major support area (marked in green) at 0.0600, which represents a strong basis for the upside.
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We are in a consolidation trend above the 100 moving average.
Entry price: 0.0665
First target: 0.0693
Second target: 0.0740
Third target: 0.0798
Don't forget a simple matter: capital management.
When you reach the first target, save some money and then change your stop-loss order to an entry order.
For inquiries, please leave a comment.
Thank you.
