$ORDI shows on the chart the possibility of a bottom forming after a sharp drop from the $5.60 level. Right now, we're noticing a price consolidation phase around the $5.20 area with relative stability in movement.
📊 Setup and Trend
• Bias: Bullish reversal / Scalp Long
• Overview: The price has formed local support near $5.115. The appearance of a recovery pattern shaped like a 'W' on the 15-minute chart indicates buying strength entering to defend the psychological $5.00 level.
📈 Trading Plan
• Entry Zone: $5.18 – $5.22 (or upon retesting support)
• Targets:
🎯 TP1: $5.35 (previous local high)
🎯 TP2: $5.50 (potential major resistance for reversal)
• Stop Loss: Below $5.08 (nullifies the bullish scenario)
⚠️ Risk Note:
ORDI is highly volatile, so strict risk management must be adhered to, especially with a daily pullback of about -4.48%. Be cautious and trade smart.
#ORD