PEOPLEPEOPLE approaching Golden Pocket (0.0626 to 0.0599) of Fib Retracement from January 24th.
It might bounce off GP into daily Resistance.
or
Arc from the middle of strong Downtrend channel.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
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PEOPLEUSDT trade ideas
Long position for peopleEntry position : buy now or 0.0834
Target 1: 0.0911
Target 2: 0.0956
Target 3: 0.1000
Stop loss: 0.0767
Remember bitcoin determines the trend of the market. Trade with caution and I wish you luck. Like and follow for more daily trading analysis. Telegram group coming soon.
Trade signal: PEOPLE/USDT
Exchange: Binance
Trade type: Long position
Hidden Bullish Divergence PEOPLE is showing hidden bullish divergence on both 1 hour and 4 hour timeframe. Hidden bullish divergence is when price makes a higher low but RSI makes a lower low instead. It typically means continuation of existing trend. Existing trend here is upward so its possible we see PEOPLE go on to make a higher high. Do your own research and trade safe.
PEOPLEUSDT is creating a Pennant
The price is creating a Pennant on the 0.382 Fibonacci level after a breakout from the daily resistance.
The price is testing the 4h resistance too.
How to approach?
IF the price is going to have a breakout from the 4h resistances and daily dynamic resistance, According to Plancton's strategy , we can set a nice order
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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 🦐