The market is creating a descending channel between the daily structures.
The market got a rejection from the 0.618 Fibonacci level on the daily timeframe around 4.6$ and the price comes back into the descending channel. It was a false breakout.
The demand zone is around 3.40$
How to Approach?
IF the price is going to have a breakout from the daily and 4h resistance and turn the resistance into new support (around 5.2$) we can add in our Watchlist and wait to apply our rules, otherwise, if the price is going to grab the liquidity on in the demand zone, we could see spikes before new bullish impulse
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Follow the Shrimp 🦐
Keep in mind.
The market got a rejection from the 0.618 Fibonacci level on the daily timeframe around 4.6$ and the price comes back into the descending channel. It was a false breakout.
The demand zone is around 3.40$
How to Approach?
IF the price is going to have a breakout from the daily and 4h resistance and turn the resistance into new support (around 5.2$) we can add in our Watchlist and wait to apply our rules, otherwise, if the price is going to grab the liquidity on in the demand zone, we could see spikes before new bullish impulse
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Nota
The price is in the Demand zone.We are waiting for the new Bullish impulse, nice volume so far
Bullish above 4.7$
Nota
The price is inside a descending channel on the demand zone.We are waiting for the breakout
Nota
We didn't open a short position on the Demand zone, it's a key level, but we are waiting for a new accumulation phase for a reversal.We are waiting for the breakout, don't miss it! 😏
Nota
The price is follow my drawing!
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.
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.