ONEUSDT wants the breakout?ONEUSDT wants the breakout?
Falling Wedge Breakout: ONEUSDT has recently experienced a breakout from a falling wedge pattern. This pattern is characterized by converging trendlines with a wider upper trendline and a steeper lower trendline. A breakout from the upper trendline is often considered a bullish signal, suggesting a potential reversal of the prior downtrend.
False Breakout Confirmation: You mentioned that there was a clear false breakout from the $0.00981 level. A false breakout, as you described, is when the price temporarily moves beyond a key level but then quickly reverses back. This kind of price action is a common market occurrence.
New Breakout Potential: According to your analysis, you anticipate that the market might grab new liquidity to potentially create a new breakout from the $0.02 area. This could imply that the price may experience a move to attract buying interest or selling pressure around this specific price level.
Plancton's Rules Application: In line with Plancton's Rules, you suggest considering a new long position if the price indeed breaks out from the $0.02 area. A long position involves buying the asset with the expectation that its price will rise, which aligns with the potential bullish momentum indicated by the breakout.
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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.
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