NOT Coin: Poised for a Breakout? Key Resistance Level in Focus

Greetings, fellow traders.

While many cryptocurrencies are experiencing upward momentum or consolidating in preparation for potential rallies, Notcoin (NOT) has recently surged 4-5%, reaching a critical daily resistance zone.

Breakout Potential:

This resistance level has proven significant, with NOT having tested and failed to break through it twice this week. A successful breakout above this zone could unlock substantial upside potential.

Long Trade Setup (Conditional):

Entry Trigger: A confirmed close of a 1-hour or 2-hour candle above the current daily resistance is required. Then, initiate a long position when the price of the subsequent candle surpasses the high of the confirming (breakout) candle. This two-step confirmation helps mitigate the risk of a false breakout.
Target 1: $0.003000 - $0.003100
Target 2: $0.003700 - $0.003800

Risk Management:

This is a higher-risk, breakout-based setup. Implement appropriate risk management, including a defined stop-loss strategy, to protect capital in case of a failed breakout.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Conduct thorough due diligence and risk assessment before making any trading decisions.