ETHUSDT is testing the old support as new resistance
Updated
The price is following my drawing according to my previous idea, the market bounced until 2700 and got new liquidity for a breakout of 0.618 Fibonacci level.
Now the price is testing the old support as new resistance.
How to approach?
A breakout is not enough, you need to have strategies to open a new short position, we will open a new short if the market is going to satisfy our rules. The next valid support is 2400
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Follow the Shrimp 🦐
Keep in mind.
Now the price is testing the old support as new resistance.
How to approach?
A breakout is not enough, you need to have strategies to open a new short position, we will open a new short if the market is going to satisfy our rules. The next valid support is 2400
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Note
The price is trying to get again the support as I said in the main analysis. We are monitoring the price, the US Market is opening and we could see volatility.If the price is going to lose the support again, the next valid support is 2400
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