DYDXUSDT wants to retest the Weekly support
Updated
The price is creating a descending channel on the daily timeframe .
The price created a double bottom on the weekly support, 4.35$
on the 4h timeframe the price is creating another descending channel.
How to approach?
The price is going to retest again the 4h support on 4.60$, if the price is going to lose it we could see a new retest of the weekly support, thus the market is going to create a triple bottom, so According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
–––––
Follow the Shrimp 🦐
The price created a double bottom on the weekly support, 4.35$
on the 4h timeframe the price is creating another descending channel.
How to approach?
The price is going to retest again the 4h support on 4.60$, if the price is going to lose it we could see a new retest of the weekly support, thus the market is going to create a triple bottom, so 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.
–––––
Follow the Shrimp 🦐
Note
The price is testing the previous support, more down if the price is going to have a breakdown from itNote
Wait for the breakout and weekly restestNote
the price followed my drawing!10% since my idea 😎
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.