AI16Z/USDT 1H: Bulls Targeting $1.20 After Breakout

AI16Z/USDT 1H Chart Analysis
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Current Price: ~$1.03

Market Structure:

• Bullish breakout from the discount zone with strong upward momentum.
  

Key Levels:

• Support: $0.95 (Fair Value Gap - FVG).
  

Resistance:

• T1: $1.15 (Equilibrium).
  
• T2: $1.20 (Premium zone).
  
• Stop Loss: Below $0.92.
  

Momentum Indicators:

• RSI: 69.48, showing strong bullish momentum but nearing overbought territory.
  

Trade Setup (Confidence Level: 8/10):

• Entry Zone: ~$1.03 (current price) or pullback to $0.95.
  
• Targets:
  
• T1: $1.15
  
• T2: $1.20
  

• Market Maker Analysis:
• Accumulation at the discount zone suggests preparation for a push higher.
  
• Distribution expected near $1.15-$1.20.
  

Notes:

• No hidden divergences currently, but monitor RSI for potential bearish divergence at resistance.
  
• Risk score: 7/10 due to RSI nearing overbought levels.
  

Recommendation:

• Long position favored with tight risk management.
  
• Watch for volume confirmation and price reaction near $1.15.
  
• Confidence Level: 8/10 for bullish continuation.
  

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