FX.co ★ rlemke | Cryptoanalytics from InstaForex

Trade Analysis for Buying #YGGUSDT The recommended entry point for a long position on the #YGGUSDT pair is $1.0602. Setting the stop-loss is suggested at the level of $1.0537 to limit potential losses in case of an unfavorable market development. Technical Analysis On the 1-hour timeframe (1h TF) for this instrument, there is a clearly defined local support level that has been tested multiple times. This level sets the stage for expecting an activation of untapped liquidity, which could trigger a price increase. Additionally, there is an uncovered imbalance and the presence of limit buyers supporting the price, pushing it upwards in line with the current trend. These factors together form a bullish triangle, indicating a potential continuation of the upward movement. Expected Scenarios A consolidation period may form, followed by an upward movement aiming to fully or partially close the "bearish" candle, based on liquidity attraction. This provides an opportunity for the asset's value to increase. Conclusion Therefore, the current technical picture and market dynamics support the idea of opening a long position on this trading pair, with a focus on careful risk management through the established stop-loss.