plancton0618

FILUSDT is creating a descending channel

Long
BINANCE:FILUSDT   FIL / TetherUS
the price is testing an important support zone on the weekly support.
After a daily breakdown, the price retested the previous support as new resistance and now the price is creating a descending channel on the weekly support and below the daily resistance.

The market starts with a higher high and higher low below the major daily resistance.

How we can approach it?
We need to wait and see a clear breakout of daily resistance and descending channel , retest the previous resistance as new support. Only in that case we could apply the Plancton's rules to open a new long position.

–––––
Follow the Shrimp 🦐

Keep in mind.
  • 🟣 Purple structure -> Monthly structure.
  • 🔴 Red structure -> Weekly structure.
  • 🔵 Blue structure -> Daily structure.
  • 🟡 Yellow structure -> 4h structure.

🦐 FOLLOW THE SHRIMP🦐

🎯 Forex Telegram: https://t.me/plancton0618

🚀 Crypto Telegram: https://t.me/plancton_crypto

📚 Plancton's Academy: https://t.me/plancton0618Admin

🎥 YouTube Channel: https://www.youtube.com/c/Plancton0618
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.