LRCUSDT is grabbing new liquidity?

BINANCE:LRCUSDT   Loopring / TetherUS
Testing Key Daily Support: The current market situation involves LRCUSDT testing the $0.2 area, which serves as a crucial daily support level. Daily support levels are historical price points where buying interest has previously emerged, potentially preventing the price from declining further.

Breakout Potential at $0.24: You've indicated that a potential trading opportunity could arise if the price effectively captures new liquidity and subsequently generates a new breakout above the $0.24 level.

Plancton's Rules Application: In accordance with your analysis and following Plancton's Rules, you are considering a new long position if the price accomplishes the mentioned breakout above $0.24. A long position involves acquiring the asset with the expectation that its value will ascend, aligned with the anticipated bullish momentum implied by the potential breakout.

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.
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