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Position P&L: +5.2%, entered two layers of base position at 0.0487, currently floating profit of a few hundred dollars, not yet at the reduction point.
This bullish candle of $POWR pushed the 24h high to 0.0544, with a trading volume of 800 million, three times the average volume of the past few days. Clearly, there is capital actively absorbing. After watching the market for half an hour, the 0.0485 to 0.0490 range has seen repeated hand changes. These are not retail orders but a pattern of large orders supporting the price, then canceling, then supporting again.
My trading plan: No addition near 0.0489 currently. If it pulls back to 0.0475 without breaking and shows a 15-minute level bullish candle with volume, I will add a third layer, bringing total position to 30%, with a unified stop loss at 0.0452 (1% below the previous low). If it directly breaks through 0.0520 and holds, then wait for a pullback to 0.0505 to add, and move the stop loss up to 0.0480.
Two scenarios anticipated. Scenario one: After the main force washes out, the second wave begins, targeting the 0.058 to 0.062 range, which is the resistance zone near the previous high on the 4-hour level. Scenario two: A fake breakout, double topping at 0.0508 to 0.0515, then turning down. If it breaks below 0.0470, it could go to 0.044 to touch the bottom. Currently, the volume doesn't look like a one-day event, but the MACD shows signs of divergence. Chasing highs here offers very poor risk-reward.
Operation suggestion: If you have no position now, don't chase. Wait for confirmation at 0.0475 or 0.0505 before entering. If you have a heavy position, you can set a sell order at 0.0515 to reduce by one layer. Don't be greedy for the last bit. My habit is to only trade two coins at a time. The other one is $FET. No new positions opened today.
Results will be updated in the comments.