BTCUSDT wants to retest the lower trendline
The price lost the weekly support on 42k and now the price is testing the 40k key level.
On the daily timeframe, the price is creating an ascending channel, the first impulse started from the monthly support of 32500$.
On the 4h Timeframe the price created a M Pattern and the market retested its neckline as resistance.
How to approach?
The price wants to retest the lower trendline of the ascending channel on 37000$ on 1.13 Fibonacci EXT. We could see a pullback on the weekly resistance before the next bearish impulse.
According to Plancton's strategy, we can set a nice order
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Keep in mind.
Follow the Shrimp 🦐
On the daily timeframe, the price is creating an ascending channel, the first impulse started from the monthly support of 32500$.
On the 4h Timeframe the price created a M Pattern and the market retested its neckline as resistance.
How to approach?
The price wants to retest the lower trendline of the ascending channel on 37000$ on 1.13 Fibonacci EXT. We could see a pullback on the weekly resistance before the next bearish impulse.
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.
Follow the Shrimp 🦐
Komentarz:
The price is testing the dynamic resistance.
if the price is going to have a breakout, the next resistance is 42k as I drew
if the price is going to have a breakout, the next resistance is 42k as I drew
Let's see!