it is currently being tested at the 0.5 Fibonacci level.
This follows a clear breakout from a descending resistance level near the $16,000 area.
After a period of accumulation, the price created a bullish impulse and retested previous resistance levels, which now act as supports.
The Fibonacci level of 0.5 is a key technical analysis level used to determine potential levels of support and resistance in the market.
The market will closely monitor the price action at this level to determine the next potential direction for the price of BTC.
In this context, a new breakout means that the price of BTC is expected to move above a certain level, creating a new target level. If the price satisfies the set rules, the new target for BTC could be $25,000. The market will closely monitor the price action for a potential breakout, which could indicate a continuation of the bullish trend.
According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
Follow the Shrimp 🦐
This follows a clear breakout from a descending resistance level near the $16,000 area.
After a period of accumulation, the price created a bullish impulse and retested previous resistance levels, which now act as supports.
The Fibonacci level of 0.5 is a key technical analysis level used to determine potential levels of support and resistance in the market.
The market will closely monitor the price action at this level to determine the next potential direction for the price of BTC.
In this context, a new breakout means that the price of BTC is expected to move above a certain level, creating a new target level. If the price satisfies the set rules, the new target for BTC could be $25,000. The market will closely monitor the price action for a potential breakout, which could indicate a continuation of the bullish trend.
According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ black structure -> <= 1h structure.
Follow the Shrimp 🦐
