GRTUSDT wants the breakout?
GRTUSDT is currently exhibiting a specific price pattern, with the price confined within a falling wedge on the daily timeframe. This falling wedge is formed between larger weekly structures, indicating a potential significant price move in the future.
According to Plancton's rules, the price would ideally need to create a breakout from the falling wedge pattern and subsequently retest this breakout level. This retest is crucial as it confirms the validity of the breakout and provides an opportunity for traders to enter new long positions.
Traders following this strategy would look for signs of a breakout above the upper trendline of the falling wedge, followed by a pullback to the breakout level for a retest. Upon successful retest, it could signal a favorable entry point for new long positions, anticipating a potential bullish move in the price of GRTUSDT.
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Follow the Shrimp 🦐
Keep in mind.
According to Plancton's rules, the price would ideally need to create a breakout from the falling wedge pattern and subsequently retest this breakout level. This retest is crucial as it confirms the validity of the breakout and provides an opportunity for traders to enter new long positions.
Traders following this strategy would look for signs of a breakout above the upper trendline of the falling wedge, followed by a pullback to the breakout level for a retest. Upon successful retest, it could signal a favorable entry point for new long positions, anticipating a potential bullish move in the price of GRTUSDT.
–––––
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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