SOL / TetherUSZaktualizowano SOLUSDT the time of truth
SOLUSDT is currently encountering a significant hurdle as it tests the weekly dynamic resistance around the $19 price level. This resistance level represents a historical point where selling pressure has been observed in the past.
For a bullish scenario to materialize, the price of SOLUSDT would need to successfully break out above this resistance level. A breakout occurs when the price moves decisively and sustains a move above the resistance, indicating a potential shift in market sentiment and a higher probability of further upward movement.
Following a successful breakout, a common market behavior is for the price to retest the previously encountered resistance level, which now acts as a new support level. This retest is an opportunity for traders to establish long positions according to the principles outlined in "Plancton's rules," a trading strategy you mentioned.
By waiting for the price to retest the breakout level and holding as support, traders following Plancton's rules would consider opening new long positions. The logic behind this strategy is that the retest validates the breakout and confirms the newfound support level. It is believed that such a confirmation increases the likelihood of sustained bullish momentum and potential further price appreciation.
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Follow the Shrimp 🦐
Keep in mind.
For a bullish scenario to materialize, the price of SOLUSDT would need to successfully break out above this resistance level. A breakout occurs when the price moves decisively and sustains a move above the resistance, indicating a potential shift in market sentiment and a higher probability of further upward movement.
Following a successful breakout, a common market behavior is for the price to retest the previously encountered resistance level, which now acts as a new support level. This retest is an opportunity for traders to establish long positions according to the principles outlined in "Plancton's rules," a trading strategy you mentioned.
By waiting for the price to retest the breakout level and holding as support, traders following Plancton's rules would consider opening new long positions. The logic behind this strategy is that the retest validates the breakout and confirms the newfound support level. It is believed that such a confirmation increases the likelihood of sustained bullish momentum and potential further price appreciation.
–––––
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.
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