THETAUSDT is a cryptocurrency trading pair consisting of THETA (a decentralized video streaming platform) aRecently, the price of THETAUSDT experienced a bounce on the weekly support level at around $1.04. This indicates that there was significant buying activity at that price point, which prevented the price from falling further.
After the bounce, the price of THETAUSDT experienced a clear breakout from the $1.2 area, which is now being tested as new support. This suggests that there is strong buying pressure at this level, which could potentially push the price higher in the future.
Based on Plancton's rules, this breakout and subsequent retest of the $1.2 level may be seen as a bullish signal, indicating that a new uptrend may be forming. If the price is able to create a new impulse and move towards the $1.3 area, this could be an even stronger signal to go long on THETAUSDT.
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Follow the Shrimp 🦐
Keep in mind.
After the bounce, the price of THETAUSDT experienced a clear breakout from the $1.2 area, which is now being tested as new support. This suggests that there is strong buying pressure at this level, which could potentially push the price higher in the future.
Based on Plancton's rules, this breakout and subsequent retest of the $1.2 level may be seen as a bullish signal, indicating that a new uptrend may be forming. If the price is able to create a new impulse and move towards the $1.3 area, this could be an even stronger signal to go long on THETAUSDT.
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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.