FTMUSDT is creating a descending channel
Updated
The market created a double top at 3.40$ and after that, the price got a bearish impulse. During these days the bad news not help this token, A big Developer left the team.
On the daily timeframe, the price is creating a descending channel and lost the key level on 1.3$.
On the 4h timeframe the price is creating a minor descending channel and now the price is testing the previous resistance as new support on 0.5 Fibonacci level.
How to approach?
the price needs to have a breakout from the descending channel with volume and confirm the breakout above the daily resistance and 4h timeframe on 1.37$.
IF the price is going to satisfy our rules, 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 🦐
On the daily timeframe, the price is creating a descending channel and lost the key level on 1.3$.
On the 4h timeframe the price is creating a minor descending channel and now the price is testing the previous resistance as new support on 0.5 Fibonacci level.
How to approach?
the price needs to have a breakout from the descending channel with volume and confirm the breakout above the daily resistance and 4h timeframe on 1.37$.
IF the price is going to satisfy our rules, 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 following my drawingNote
The price is following my drawing. Now the market needs to flip it as I told you 😎Note
Wait for the breakout
Note
The price is testing the daily resistance below the 4h structure as I told you.We are waiting for the breakout
The price is following my drawing
Note
so far so goooodNote
So Far so good! another 6% since my call.Note
so far 9% 😎
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