BTCUSDT is testing the previous support zone
Updated
The price got a rejection from the supply zone as I told you on the previous analysis.
On the daily timeframe, we can see a resistance exactly on 41800$.
On the lower timeframe, the price is testing the previous support area.
The price created a new Higher low after a bounce on 41800, and now the market is looking for the next bounce. the price could create a new Lower higher and then a new Higher low.
How to approach?
If the price is going to lose the 38k Zone and retest it as new support, According to Plancton's strategy, we can set a nice order.
The next valid support remains 34k
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Keep in mind.
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Follow the Shrimp 🦐
On the daily timeframe, we can see a resistance exactly on 41800$.
On the lower timeframe, the price is testing the previous support area.
The price created a new Higher low after a bounce on 41800, and now the market is looking for the next bounce. the price could create a new Lower higher and then a new Higher low.
How to approach?
If the price is going to lose the 38k Zone and retest it as new support, According to Plancton's strategy, we can set a nice order.
The next valid support remains 34k
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
Note
The price got a rejection from the 0.382 Fibonacci level.The market is following my drawing.
We are waiting for the breakout from the 4h support on 38000.
👀
Note
The market created a new Higher Low on the 0.382 Fibonacci level.If the price is going to have a breakout, we could see a new bearish impulse.
The price is following my drawing.
Note
The price is testing a key level where the market has a confluence of 0.618 Fibonacci Level, the dynamic daily support, and 4h static support.If the price is going to lose the key level and it creates a new low, we could see a bearish impulse until the next valid support
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