The price of XTZUSDT has been attempting to break out from the resistance level at $1.2, which is a significant level of resistance that has been tested several times in the past.
However, the price of XTZUSDT has recently made a clear breakout from a descending channel, which is a bearish technical pattern that is formed by connecting the price highs and lows with two downward sloping trend lines. A breakout from a descending channel is a bullish sign that suggests that the downtrend is coming to an end and the price may be ready to move higher.
Furthermore, the price of XTZUSDT has bounced off the 0.618 Fibonacci retracement level, which is a commonly used technical analysis tool that is based on the Fibonacci sequence. This retracement level is considered to be a significant level of support and resistance in the markets, and the fact that the price bounced off this level is a bullish sign.
Taken together, the breakout from the descending channel and the bounce off the 0.618 Fibonacci retracement level suggest that the price of XTZUSDT may be ready to break through the resistance level at $1.2 and move higher., so According to Plancton's strategy, we can set a nice order
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Keep in mind.
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However, the price of XTZUSDT has recently made a clear breakout from a descending channel, which is a bearish technical pattern that is formed by connecting the price highs and lows with two downward sloping trend lines. A breakout from a descending channel is a bullish sign that suggests that the downtrend is coming to an end and the price may be ready to move higher.
Furthermore, the price of XTZUSDT has bounced off the 0.618 Fibonacci retracement level, which is a commonly used technical analysis tool that is based on the Fibonacci sequence. This retracement level is considered to be a significant level of support and resistance in the markets, and the fact that the price bounced off this level is a bullish sign.
Taken together, the breakout from the descending channel and the bounce off the 0.618 Fibonacci retracement level suggest that the price of XTZUSDT may be ready to break through the resistance level at $1.2 and move higher., so According to Plancton's strategy, we can set a nice order
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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 🦐