See if we can hold the price above 0.05709
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(AWEUSDT 1D chart)
The total supply of 2 billion has been unlocked.
Therefore, it seems that temporary profit taking will occur.
We will have to wait and see what kind of flow it will show in the future, but I think the key is whether there is support around 0.05709, which is the HA-Low indicator point.
Since the volume profile section formed on the current 1D chart is formed at 0.06367, we need to check whether there is support around this area.
The 0.06981-0.07188 section corresponds to the previous high point of the 1M chart.
Therefore, the start of the uptrend is expected to begin when the price breaks through the 0.06981-0.07188 section upward and is maintained.
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In summary of the above,
- The time to buy is when support is confirmed around 0.05709.
- The resistance section is likely to be around 0.06367 and the 0.06981-0.07188 section.
Therefore, you should create a response strategy depending on whether there is support at the points or sections mentioned above, that is, 0.05709, 0.06367, 0.06981-0.07188.
If the price falls below 0.05709, you should stop all trading and wait and see.
The reason is that it is likely to lead to a step-down trend.
Even if it rises, it is expected that there will be a limit to the rise due to profit taking for the time being because all tokens have been unlocked.
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Thank you for reading to the end.
I hope you have a successful trade.
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- This is an explanation of the big picture.
(3-year bull market, 1-year bear market pattern)
I will explain more details when the bear market starts.
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