DOTUSDT has recently had a breakout from a falling wedge pattern.
A falling wedge is a bullish reversal chart pattern that is formed when the price is trending downwards but starts to converge in a tighter range.
This pattern is characterized by a series of lower highs and lower lows that are connected by two trendlines that are sloping downwards.
The breakout from the falling wedge is a bullish signal that the trend is reversing and the price is likely to move upwards. In the case of DOTUSDT, the price retested the daily resistance as support and started to create a series of higher highs and higher lows. This is a sign of bullish momentum and traders should be watching for further price action.
The price of DOTUSDT now needs to create a breakout from the 6.9$ area to create a new higher high. A breakout above this level would indicate that buyers are in control of the market and the price is likely to continue moving upwards. Traders should be monitoring the market closely for any potential breakout above 6.9$ as it could signal a continuation of the bullish trend.
Overall, the falling wedge pattern and the recent price action of DOTUSDT suggests a bullish reversal and traders should be monitoring the market closely for any potential breakout above 6.9$ to confirm the trend continuation, so According to Plancton's strategy, we can set a nice order
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Keep in mind.
Follow the Shrimp 🦐
A falling wedge is a bullish reversal chart pattern that is formed when the price is trending downwards but starts to converge in a tighter range.
This pattern is characterized by a series of lower highs and lower lows that are connected by two trendlines that are sloping downwards.
The breakout from the falling wedge is a bullish signal that the trend is reversing and the price is likely to move upwards. In the case of DOTUSDT, the price retested the daily resistance as support and started to create a series of higher highs and higher lows. This is a sign of bullish momentum and traders should be watching for further price action.
The price of DOTUSDT now needs to create a breakout from the 6.9$ area to create a new higher high. A breakout above this level would indicate that buyers are in control of the market and the price is likely to continue moving upwards. Traders should be monitoring the market closely for any potential breakout above 6.9$ as it could signal a continuation of the bullish trend.
Overall, the falling wedge pattern and the recent price action of DOTUSDT suggests a bullish reversal and traders should be monitoring the market closely for any potential breakout above 6.9$ to confirm the trend continuation, so 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.
- ⚫️ black structure -> <= 1h structure.
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