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InkyGrip
Jul 6, 2022 6:01 AM

BTCUSDT is creating a Pennant Short

Bitcoin / TetherUSBinance

Description

The price retested exactly the 19k as I told you in my previous analysis and now the price got a rejection from the 20k static resistance and dynamic resistance (0.618 Fibonacci level) and the market failed to create a new Higher High.

How to approach it?
The price could grab new liquidity from 21k area and create a new bearish impulse below the 19k, so If According to Plancton's strategy, we can set a nice order
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Keep in mind.
  • 🟣 Purple structure -> Monthly structure.
  • 🔴 Red structure -> Weekly structure.
  • 🔵 Blue structure -> Daily structure.
  • 🟡 Yellow structure -> 4h structure.

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Follow the Shrimp 🦐
Comments
HAMED_AZ
Perfect
InkyGrip
@HAMED_AZ, thanks buddy
Solldy
That's a very interesting point of view. I think this scenario is possible for collecting liquidity, it would be very useful. And in the longer term, I'm looking at a price move in the other direction. Thanks for the hard work, mate)
InkyGrip
@Solldy, thanks to you for the continuous support
RLinda
Nice chart. Thanks. You can be right. Keep it up)
InkyGrip
@RLinda, cheers my dear
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