CAKEUSDT is testing the resistance
The price had a breakout from the daily dynamic resistance and now is trying to have a breakout from the static resistance.
On the 4h timeframe the price is below a supply zone on 7$.
How to approach?
The price needs to create a new bullish impulse and breakout from 7$ and retest that area as new support. According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
On the 4h timeframe the price is below a supply zone on 7$.
How to approach?
The price needs to create a new bullish impulse and breakout from 7$ and retest that area as new support. 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.
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Follow the Shrimp 🦐
Note
The price got a bullish impulse and got a rejection from the 4h resistance. After the rejection, the price bounced on the 0.618 Fibonacci level.
Wait for the breakout from the 4h resistance
Note
The price had a breakout and now is trying to hold the new supportNote
24% so far.Note
30% so far.
Note
54% so far so good
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