The price had a breakout from the dynamic resistance on the daily timeframe and got a rejection from the key level on 43-35k.
On the lower timeframe, we can see a bounce from the weekly support on 36k and the market is starting to create a descending channel.
The price is testing another key level on 39k, that resistance is very strong, if you check on the left you can see several rejections for that area.
How to approach?
The long scenario is valid only if the price is going to have breakouts from the descending channel and 4h resistance above the 42k In that case we can talk about reversal.
Otherwise, if the price got a rejection and the market is going to lose the 4h support on 37k, we could see another bearish impulse until the weekly support around 35-34k
According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
On the lower timeframe, we can see a bounce from the weekly support on 36k and the market is starting to create a descending channel.
The price is testing another key level on 39k, that resistance is very strong, if you check on the left you can see several rejections for that area.
How to approach?
The long scenario is valid only if the price is going to have breakouts from the descending channel and 4h resistance above the 42k In that case we can talk about reversal.
Otherwise, if the price got a rejection and the market is going to lose the 4h support on 37k, we could see another bearish impulse until the weekly support around 35-34k
According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.