iExec RLC / TetherUSUpdated RLCUSDT needs to create a new breakout!
RLCUSDT is currently testing the daily resistance level after breaking out of a descending channel.
This indicates that the price is experiencing a bullish trend, and traders may be interested in buying the asset in the hopes of profiting from further price increases.
In order for traders to consider taking a long position in RLCUSDT, the price must first create a breakout from the 2.1$ area, and then retest it as new support. This means that if the price manages to break above the 2.1$ level, it should subsequently drop back down to retest this level and confirm that it is now acting as support, rather than resistance.
If the price does confirm the breakout According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
This indicates that the price is experiencing a bullish trend, and traders may be interested in buying the asset in the hopes of profiting from further price increases.
In order for traders to consider taking a long position in RLCUSDT, the price must first create a breakout from the 2.1$ area, and then retest it as new support. This means that if the price manages to break above the 2.1$ level, it should subsequently drop back down to retest this level and confirm that it is now acting as support, rather than resistance.
If the price does confirm the breakout 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.
- ⚫️ black structure -> <= 1h structure.
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Follow the Shrimp 🦐
Note
Still Waiting Note
Breakout is mandatory Note
The breakout is mandatory!
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