$AERGO Long: post by Sherlockwhale

https://twitter.com/Sherlockwhale/status/1874467725898117297

Entry Point:

Entry: Market Price ($0.1355)

DCA Level: $0.1222

Stop Loss:

Stop Loss: Manual 4-hour Close Below $0.1176

Leverage:

Range: 5X to 20X

Target:

Final Target: $0.2243

Reasoning: First and foremost, please ensure you understand this setup thoroughly before taking it. AERGO has been a top loser on Bybit during last 24H. Usually top losers often have good buying opportunities. However the price failed to hold above the quarterly and yearly 4H VWAP and an essential support level, which are concerning signs. Despite these red flags, the price is bouncing from a 70% Fibonacci level and a critical point of interest near the value area low, making it hard to ignore this setup. Given the current market stagnation and low volumes due to the holiday season, we’re limited to top gainers or losers for any significant activity. This setup, therefore, carries higher risks but also the potential for a good reward if the market reacts favourably.

Rating: This setup is rated 6/10. It’s not the ideal type of trade but offers a potential upside given the circumstances.