BTCUSDT is testing the previous support as new resistance
The price got a rejection from the monthly resistance on 45700$
on the daily timeframe, the price created a double bottom on the monthly area and the price lost the weekly support at 40500$
on the 4h timeframe, the price is losing the support on 38500 after a rejection from 4h structure on 39522.
Now the price is testing the dynamic daily support as new resistance.
How to approach?
IF the price is going to confirm the breakout, we can add it to our watchlist According to Plancton's strategy, we can set a nice order
The next valid support is the weekly one on 34k
The safe place remains the 42k
–––––
Keep in mind.
Follow the Shrimp 🦐
on the daily timeframe, the price created a double bottom on the monthly area and the price lost the weekly support at 40500$
on the 4h timeframe, the price is losing the support on 38500 after a rejection from 4h structure on 39522.
Now the price is testing the dynamic daily support as new resistance.
How to approach?
IF the price is going to confirm the breakout, we can add it to our watchlist According to Plancton's strategy, we can set a nice order
The next valid support is the weekly one on 34k
The safe place remains the 42k
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Follow the Shrimp 🦐
Comentarios:
The price got a rejection from our 4h resistance and lost the dynamic support as I told you.
Our scenario is triggered only if the price is going to lose the current support and satisfy our rules!
Let's see! 👀