XTZUSDT is ready for the monthly support?
The price lost the support after the breakout from the channel.
the market had the demand zone on the 2.9$ and now the price could flip the demand zone to the supply zone.
The price had a false breakout from the monthly resistance on the 3.9$ where the price got the liquidity for the bearish impulse.
How to approach?
The price could retest the demand zone as new resistance for the next bearish impulse until the monthly support where the market had the 1.27 Fibonacci EXT level.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
the market had the demand zone on the 2.9$ and now the price could flip the demand zone to the supply zone.
The price had a false breakout from the monthly resistance on the 3.9$ where the price got the liquidity for the bearish impulse.
How to approach?
The price could retest the demand zone as new resistance for the next bearish impulse until the monthly support where the market had the 1.27 Fibonacci EXT level.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Comment:
7% so far.
Congrats Planctoners