IOTXUSDT wants the 0.618 Fib?

The price is creating a descending channel below the 0.382 Fibonacci level at 0.034$ area.
The price bounced exactly on the lower trendline of the ascending channel and now the market is testing a confluence zone.

How to approach it?
IF the price is going to have a breakout from the descending channel and 4h resistance and retest the resistance as new support, 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 🦐


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.