ROSEUSDT,. Recently, there has been a notable breakout in the price as mentioned in your previous idea. The price surge was significant enough to breach a key resistance level, signifying a potential change in the market sentiment.
Following the breakout, the price is now undergoing a crucial test, as the previously resistant level has turned into a new support level. This test is essential to confirm the sustainability of the upward trend. Traders and investors are closely monitoring the price action to assess whether the newfound support will hold and provide a solid foundation for further upward movements.
The current price action suggests that for the bullish momentum to continue, a new breakout from the 0.05325$ area is required. If the price can successfully breach this level, it may signal further bullish strength and attract more buying interest from market participants.
Before attempting the new breakout, the price might have experienced a slight retracement, possibly dipping to around the 0.049$ area. This retracement provided an opportunity for the market to generate new liquidity, as per Plancton's Rules, which could potentially support the price during its subsequent upward movement.
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Follow the Shrimp 🦐
Keep in mind.
Following the breakout, the price is now undergoing a crucial test, as the previously resistant level has turned into a new support level. This test is essential to confirm the sustainability of the upward trend. Traders and investors are closely monitoring the price action to assess whether the newfound support will hold and provide a solid foundation for further upward movements.
The current price action suggests that for the bullish momentum to continue, a new breakout from the 0.05325$ area is required. If the price can successfully breach this level, it may signal further bullish strength and attract more buying interest from market participants.
Before attempting the new breakout, the price might have experienced a slight retracement, possibly dipping to around the 0.049$ area. This retracement provided an opportunity for the market to generate new liquidity, as per Plancton's Rules, which could potentially support the price during its subsequent upward movement.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Note
The price is following my second arrow, now the market needs to create a new breakout!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.