TOMIUSDTThis dormant coin has seen price volatility in the past few days. Forming of a sort of "bull flag" can be seen on 4H.
AI Analysis:
1. Overview of Current Position
• Entry Price: $0.03046
• Leverage: 10x Futures
• Key Chart Observations:
• Support Level: Strong support around $0.02241 to $0.02017.
• Breakout Pattern: A symmetrical triangle/ flag appears to be forming, suggesting a potential breakout.
• Fibonacci Levels: Critical retracement and extension zones marked, with significant resistance near the $0.05293 level.
2. Entry, Stop-Loss (SL), and Take-Profit (TP) Recommendations
Entry Strategy
• The entry is well-positioned around the $0.03046 Fibonacci retracement zone.
• Maintain the trade as long as the price holds above the support at $0.02241.
Stop-Loss
• Place Stop-Loss (SL) slightly below $0.02241 (preferably around $0.021) to allow for price volatility while minimizing risk.
Take-Profit (TP) Targets
1. First TP: $0.03746 (0.382 Fibonacci extension level) – this ensures a partial profit early in the breakout.
2. Second TP: $0.05293 (0.618 Fibonacci extension) – major resistance and a logical zone for further profit-taking.
3. Extended TP: $0.08147 or beyond – aligns with a potential macro breakout scenario.
3. Strategy if Price Retraces to Fibonacci 0.618 Level
• Fibonacci Level (0.618): If the price retraces to $0.02642:
• Re-entry: Will consider adding to position if there are bullish reversal signs (e.g., hammer candle or bullish engulfing on the 4-hour chart).
• Tight SL: Set a stop-loss just below $0.02312 to minimize downside risk.
• Confirmation: Look for increased volume during the bounce, which confirms buyers are defending the level.
4. Potential for a Return to $3 All-Time High
• Analysis of All-Time High ($3):
• Long-Term View: The price returning to $3 is highly speculative and depends on broader market conditions, including altcoin performance and sentiment.
• Current Structure: There’s no clear evidence suggesting a quick return to all-time highs; however, a break of $0.08 could lead to exponential growth if momentum builds.
5. Risk Management
Given the 10x leverage:
• Avoid over-leveraging additional positions if the price retraces to lower Fibonacci levels.
• Stick to the SL and TP strategy to protect capital.
• Monitor volume and momentum closely. If the volume fades at higher Fibonacci levels, consider scaling out early.
6. Recommendations
• Stick to current entry plan and hold the trade unless the price breaks below $0.02241.
• Use a laddering approach for TP and consider trailing your stop-loss as the price moves upward.
