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【$GUNUSDT】Don't rush to bottom fish/chase highs, check this first
$GUN Order book is experiencing crazy order cancellations, liquidity is thin during the pre-US market open trading period. On the 4-hour level, there's obvious price-volume divergence. The price has crashed from 0.0287 to 0.0231, but open interest remains unchanged, indicating spot selling rather than contract liquidation. The 1-hour MACD has a bearish crossunder below zero with convergence, bearish momentum weakening, but buy orders are piling up near the Bollinger Band lower rail at 0.0224, with fund support intentions exposed. Current price at 0.02405 is right above the 20-day EMA at 0.0222 and 50-day EMA at 0.0199, mid-term structure intact. Below at 0.0239-0.0233 there are extremely thick pending orders, serving as a natural buffer zone.
At this level the risk-reward ratio is suitable, go long directly. Enter at current price 0.02405, with stop loss below 0.0227. First target at 0.0263, reduce position by half there to break even. Second target at 0.0275, take full profits.
Check real-time charts 👇 $GUN
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