#DEGO/USDT – Bullish Breakout Setup | 1H Chart Analys

#DEGO

The price is moving within an ascending channel on the 1-hour timeframe and is adhering to it well. It is poised to break out strongly and retest the channel.

We have a downtrend line on the RSI indicator that is about to break and retest, which supports the upward move.

There is a key support zone in green at the 0.640 price level, representing a strong support point.

We have a trend of consolidation above the 100-period moving average.

Entry price: 0.660
First target: 0.688
Second target: 0.707
Third target: 0.735

Don't forget a simple money management rule:

Place your stop-loss order below the green support zone.

Once you reach the first target, save some money and then change your stop-loss order to an entry order.

For any questions, please leave a comment.

Thank you.