Short
MATICUSDT had a breakout from the weekly support
The price is creating a descending channel on the daily timeframe after a false breakout on 2.6$ area. The price retested the previous support as new resistance and the market started with a descending channel.
The price got a bounce on the dynamic weely support and now it's testing the breakout of it.
On the 4h timeframe the price had a breakout of the weekly support and retested as new resistance.
How to approach?
We are monitoring the price action, we could see a retest of the weekly confluence where the price could get new liquidity for a new bearish impulse.
According to Plancton's strategy, we can set a nice order
The setup is invalidated if the price is going to have a breakout with a retest of the weekly structures around 1.6$
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Keep in mind.
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Follow the Shrimp 🦐
The price got a bounce on the dynamic weely support and now it's testing the breakout of it.
On the 4h timeframe the price had a breakout of the weekly support and retested as new resistance.
How to approach?
We are monitoring the price action, we could see a retest of the weekly confluence where the price could get new liquidity for a new bearish impulse.
According to Plancton's strategy, we can set a nice order
The setup is invalidated if the price is going to have a breakout with a retest of the weekly structures around 1.6$
–––––
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 🦐
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