ETHUSDT had a false breakout
Updated
The price is creating a pennant below the daily resistance and the price had a false breakout. On the daily timeframe, the price tested the 0.618 Fibonacci level with a nice candle.
As you can see on the left the price created a W pattern and now the price is trying to have a breakout from the neckline.
How to approach?
The price needs to have a breakout from the weekly resistance and retest the daily resistance as support on 3200$, According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
As you can see on the left the price created a W pattern and now the price is trying to have a breakout from the neckline.
How to approach?
The price needs to have a breakout from the weekly resistance and retest the daily resistance as support on 3200$, 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.
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Follow the Shrimp 🦐
Note
The price is testing the resistance as I told you 👀
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