Bitcoin / TetherUSUpdated BTCUSDT is testing the key level!
BTCUSDT indicates that the market is testing a key level at the 25100 area, which is also a weekly resistance level. This area could potentially act as a barrier for the price, preventing it from moving higher.
There is a possibility that the price could create a false breakout above the resistance level and then retest the demand zone at the 0.618 Fibonacci level. This would be a bearish scenario, indicating that there may be a lack of buying pressure in the market.
However, it is also possible that the price could have a breakout from the weekly resistance level and retest it as new support. This would be a bullish scenario, suggesting that buyers are gaining control of the market and that a new upward trend may be forming.
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Follow the Shrimp 🦐
Keep in mind.
There is a possibility that the price could create a false breakout above the resistance level and then retest the demand zone at the 0.618 Fibonacci level. This would be a bearish scenario, indicating that there may be a lack of buying pressure in the market.
However, it is also possible that the price could have a breakout from the weekly resistance level and retest it as new support. This would be a bullish scenario, suggesting that buyers are gaining control of the market and that a new upward trend may be forming.
–––––
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.
Note
We are waiting for the news now.the price is following my arrows so far
Note
Still in play
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