REEFUSDT has a strong demand zone at the 0.00245$ area, which is where the previous impulse started. This zone may act as a critical support level for the price to bounce off.
However, the market is currently in a downtrend, with the price creating lower highs and lower lows. The price could potentially face rejection from the resistance level at 0.0027$, which would confirm the downtrend continuation.
According to Plancton's rules, a new short position may be considered if the price gets a rejection from the 0.0027$ level and creates a clear bearish signal. The demand zone at 0.00245$ could act as a target for the short position, where the price may potentially bounce off.
In summary, REEFUSDT has a strong demand zone at the 0.00245$ area, but the market is currently in a downtrend. If the price gets a rejection from the 0.0027$ level, a new short position may be considered with the demand zone as a potential target
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Follow the Shrimp 🦐
Keep in mind.
However, the market is currently in a downtrend, with the price creating lower highs and lower lows. The price could potentially face rejection from the resistance level at 0.0027$, which would confirm the downtrend continuation.
According to Plancton's rules, a new short position may be considered if the price gets a rejection from the 0.0027$ level and creates a clear bearish signal. The demand zone at 0.00245$ could act as a target for the short position, where the price may potentially bounce off.
In summary, REEFUSDT has a strong demand zone at the 0.00245$ area, but the market is currently in a downtrend. If the price gets a rejection from the 0.0027$ level, a new short position may be considered with the demand zone as a potential target
–––––
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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