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Fallingwedgepattern

JASMYUSDT wants the bounce?JASMYUSDT is forming a falling wedge pattern on the 0.005 support area, which could potentially provide a bullish signal for traders. A falling wedge is a chart pattern that occurs when the price of an asset forms a series of lower highs and lower lows, but the range between the highs and lows narrows over time. This creates a wedge-like shape on the chart, and is typically seen as a bullish reversal pattern. In the case of JASMYUSDT, the falling wedge is forming on the 0.005 support area, which means that the price has been consistently testing this level but has not been able to break below it. This could indicate that there is strong buying pressure at this level, and that traders are looking to enter the market. For a potential bullish breakout to occur, the price of JASMYUSDT needs to create a breakout from the 0.006 resistance level, which has previously acted as a key level of resistance. If the price manages to break above this level and confirm it as a new support level, this could provide a strong bullish signal for traders. According to Plancton's rules, a set of technical analysis rules used by traders, a breakout from the falling wedge pattern combined with a confirmed breakout above the 0.006 resistance level could indicate a new long position for traders. ––––– Follow the Shrimp 🦐 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 🦐
by InkyGrip
DODOUSDT wants to go higher?DODOUSDT has recently experienced a massive breakout from a falling wedge pattern. The falling wedge is a technical chart pattern that occurs when the price of an asset is in a downtrend and begins to consolidate within a narrowing range, forming a wedge shape. This pattern typically signals that a bullish reversal is imminent, as the price is likely to break out from the wedge pattern and continue higher. In the case of DODOUSDT, the price broke out from the falling wedge pattern in the $0.1 area and experienced a massive bullish impulse. This breakout was likely driven by increased demand for it, as well as positive news or developments within the DODO ecosystem. However, in order for the price to continue its upward trend, it will need to create a new breakout from the daily resistance level. This may require a period of consolidation or even a retracement, as traders take profits and reassess their positions. According to Plancton's rules, this could present a buying opportunity for long-term investors who believe in the potential of DODO USDT. ––––– Follow the Shrimp 🦐 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 🦐
by InkyGrip
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