ALICEUSDT wants the liquidity before up?
ALICEUSDT appears to be trading within an ascending channel. This pattern is characterized by a series of higher highs and higher lows, forming two parallel trendlines.
According to Plancton's trading principles, a potential short trade could be considered if the following conditions are met:
Loss of Support: The first condition involves a clear and decisive break below the lower boundary of the ascending channel, which you've indicated as the support level around the $0.76 area. This breakdown would signify a potential shift in market sentiment from bullish to bearish.
Confirmation of Breakdown: After the price loses the support level, it's essential to see confirmation of the breakdown. This confirmation can help ensure that the price is indeed heading lower and not experiencing a temporary dip.
Short Trade: If the price convincingly breaches the $0.76 support and demonstrates a sustained downward momentum, traders following Plancton's strategy may consider opening a new short position, expecting the price to decline further.
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Follow the Shrimp 🦐
Keep in mind.
According to Plancton's trading principles, a potential short trade could be considered if the following conditions are met:
Loss of Support: The first condition involves a clear and decisive break below the lower boundary of the ascending channel, which you've indicated as the support level around the $0.76 area. This breakdown would signify a potential shift in market sentiment from bullish to bearish.
Confirmation of Breakdown: After the price loses the support level, it's essential to see confirmation of the breakdown. This confirmation can help ensure that the price is indeed heading lower and not experiencing a temporary dip.
Short Trade: If the price convincingly breaches the $0.76 support and demonstrates a sustained downward momentum, traders following Plancton's strategy may consider opening a new short position, expecting the price to decline further.
–––––
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.
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