GRTUSDT wants to retest the weekly resistance?
GRTUSDT is forming a new inverse head and shoulders pattern, which is a bullish reversal pattern. This pattern is formed by three lows, with the middle low (the head) being lower than the two surrounding lows (the shoulders). The pattern is complete when the price breaks above the neckline, which is formed by connecting the highs between the shoulders. The inverse head and shoulders pattern suggests that the market is transitioning from a bearish trend to a bullish trend, and traders often use it as a signal to enter a long position.
The 0.786 Fibonacci level is a key level for the market, as it represents a significant retracement level. This level is based on the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding ones. The 0.786 Fibonacci level indicates that the market has retraced approximately 78.6% of the previous bullish impulse. This level is important for traders as it can act as a support or resistance level depending on the trend direction.
According to Plancton's rules, if the price breaks above the 0.18 USD area, a new long position until the 0.24 USD level is possible. This rule suggests that the breakout above the 0.18 USD level could signal a bullish trend continuation, and traders may want to consider entering a long position in anticipation of a potential price increase.
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Follow the Shrimp 🦐
Keep in mind.
The 0.786 Fibonacci level is a key level for the market, as it represents a significant retracement level. This level is based on the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding ones. The 0.786 Fibonacci level indicates that the market has retraced approximately 78.6% of the previous bullish impulse. This level is important for traders as it can act as a support or resistance level depending on the trend direction.
According to Plancton's rules, if the price breaks above the 0.18 USD area, a new long position until the 0.24 USD level is possible. This rule suggests that the breakout above the 0.18 USD level could signal a bullish trend continuation, and traders may want to consider entering a long position in anticipation of a potential price increase.
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Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Penafian
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