The price had a breakout from the descending channel from the daily timeframe and now the market is testing the 80$ as new resistance.
On the 4h timeframe the price is creating a W pattern and we could see a retest of its neckline around 0.5 - 0.618 Fibonacci level before the new bullish impulse.
How to approach?
We are monitoring the price, if the market is going to have a clear breakout from the 80$ resistance and flip into new support, we can apply our rules for a new long position.
If the price is going to have a retracement until 0.5 - 0.618 Fibonacci level, we can wait for a bounce a look for a new long position.
–––––
Follow the Shrimp 🦐
Keep in mind.
On the 4h timeframe the price is creating a W pattern and we could see a retest of its neckline around 0.5 - 0.618 Fibonacci level before the new bullish impulse.
How to approach?
We are monitoring the price, if the market is going to have a clear breakout from the 80$ resistance and flip into new support, we can apply our rules for a new long position.
If the price is going to have a retracement until 0.5 - 0.618 Fibonacci level, we can wait for a bounce a look for a new long position.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.