ETHUSDT is looking for a retest

2 mar 2022

The price had a breakout from the descending channel and daily dynamic resistance after a double bottom on 2400$

On the 4h timeframe, after the breakout from the weekly resistance got a rejection from the 4h resistance and now the market wants to retest the previous resistance as new support on the 0.382 Fibonacci level in order to create a new higher low

How to approach?
The price needs to confirm the flip of the previous 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 🦐

2 mar 2022

Nota

The price reclaims the weekly support on 0.382 Fibonacci level where the price has the old Higher High.

We will expect a bounce in that area

3 mar 2022

Nota

The price is testing the 0.382 Fibonacci level as I said. if the price is going to have a breakdown from the weekly support, the next valid support is on 0.618 Fibonacci level (2700).
Bull above 3100.
Let's see!