The price created a double bottom on the monthly support on 86$ and created an inverse head and shoulder with the dynamic resistance.
After the breakout, the price had a retest of the neckline and started with a very nice bull run.
Actually, the price is creating an ascending channel on 4h timeframe and had a breakout from the weekly resistance on 192$. As you can see on the daily timeframe, the price is testing the 0.618 Fibonacci level exactly on the 4h resistance (215$)
How to approach?
We could see a retest of the weekly resistance on the 192$, the price needs to confirm the flip and grab new liquidity for the next bullish impulse.
Otherwise, if the buyers push up again, we could see the breakout of the next key level 214$. So, I'd like to see a clear breakout of 4h resistance, According to Plancton's strategy, we can set a nice order
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Keep in mind.
Follow the Shrimp 🦐
After the breakout, the price had a retest of the neckline and started with a very nice bull run.
Actually, the price is creating an ascending channel on 4h timeframe and had a breakout from the weekly resistance on 192$. As you can see on the daily timeframe, the price is testing the 0.618 Fibonacci level exactly on the 4h resistance (215$)
How to approach?
We could see a retest of the weekly resistance on the 192$, the price needs to confirm the flip and grab new liquidity for the next bullish impulse.
Otherwise, if the buyers push up again, we could see the breakout of the next key level 214$. So, I'd like to see a clear breakout of 4h resistance, According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Follow the Shrimp 🦐
Comment:
The price is following my second arrow and the market is testing the 0.5 Fibonacci level on the weekly support on the descending channel.
Don't miss it.
Don't miss it.
We are waiting for the breakout from the 0.618 for the new run