Hi friends! Now the price of GALA inside the channel and the 2nd test of lower boundary is possible, but only in case if BTC fall to $16-17k.
I think that the most possible scenario is continue of consolidation or local growth to the 3 targets that i mention below.
ð The main reasons to open a long:
ðĨ trap of the retail traders and volume growth at the bottom. It confirms the pressence of buyer for us
ðĨ squeeze to the upper voundary of the channel
ðĨ whales buy orders on DOM and Footprint scalping tools
ðĨ bullish BTC will push the price of entire crypto market higher and higher
ðĐ Can you image how many short are currently opened by retailers after 80-90% DUMP? I think that the liquidation of this short position could cause the HUGE pump of this Game-Fi project. The short traders become the fuelðĨ for the highly possible grow.
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Close your long in profit here:
1. $0.044 - the key level
2. $0.51-0.55 - the value area and strong resistance
3. $0.074 - the local high and key level
I recommend you to book at least the 60-70% of profit when the orice reach the 2nd target.
ðŧFriends, press the "boost"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.