THETAUSDT ready for the breakout?
THETAUSDT has recently broken out of a descending channel pattern and is currently testing the 4-hour resistance level . The descending channel is a technical chart pattern that occurs when the price of an asset is in a downtrend and begins to consolidate within a range, forming a channel with lower highs and lower lows.
The breakout from the descending channel pattern was accompanied by a significant increase in trading volume , which may indicate increased demand for THETAUSDT and positive sentiment among traders.
However, in order for the cryptocurrency to continue its upward trend, it will need to create a breakout from the 4-hour resistance level . According to Plancton's rules for long positions, buying opportunities should be sought after a breakout from resistance, followed by a retest of the level as new support and applying MTB and/or CPS strategies
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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.
Follow the Shrimp 🦐
The breakout from the descending channel pattern was accompanied by a significant increase in trading volume , which may indicate increased demand for THETAUSDT and positive sentiment among traders.
However, in order for the cryptocurrency to continue its upward trend, it will need to create a breakout from the 4-hour resistance level . According to Plancton's rules for long positions, buying opportunities should be sought after a breakout from resistance, followed by a retest of the level as new support and applying MTB and/or CPS strategies
–––––
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.
Follow the Shrimp 🦐
Comment:
The price needs to create the breakout.!
