LRCUSDT the price is testing the 4h support
Updated
The price created a triple bottom on the monthly support of 0.62$ where the market found liquidity for a new bullish impulse. On the daily timeframe, the price got a rejection from the 0.5 Fibonacci level exactly on 1.37$.
pon the 4h timeframe the price created an M pattern with the double top on 1.37$ and the market lost the weekly support
How to approach?
The price is going to test the M's neckline as new resistance. IF and only IF the price is going to lose the daily and 4h support (1.09$) and retest it as new resistance, According to Plancton's strategy, we can set a nice order. The next valid support could be the monthly support of 0.89$ and 0.618 Fibonacci level
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Keep in mind.
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Follow the Shrimp 🦐
pon the 4h timeframe the price created an M pattern with the double top on 1.37$ and the market lost the weekly support
How to approach?
The price is going to test the M's neckline as new resistance. IF and only IF the price is going to lose the daily and 4h support (1.09$) and retest it as new resistance, According to Plancton's strategy, we can set a nice order. The next valid support could be the monthly support of 0.89$ and 0.618 Fibonacci level
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
Note
25% since my idea
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