ONEUSDT ready for the breakout?
Updated
Testing a Key Level at 0.00936: The current market situation involves ONEUSDT testing a significant level around 0.00936. Key levels are historical price points with notable influence on price actions.
HUGE Falling Wedge: The price is currently inside a massive falling wedge pattern. Falling wedges are characterized by converging trendlines and often suggest a potential reversal from a downtrend to an uptrend.
Double Bottom on Daily Timeframe: Additionally, a double bottom pattern has formed on the daily timeframe. This pattern is identified by two distinct troughs at roughly the same price level, indicating a potential trend reversal.
Breakout Anticipation and Plancton's Rules: In accordance with Plancton's Rules and aligned with the analysis, there's consideration of a new long position if the price experiences a breakout. A breakout refers to a significant price move above a key resistance level, indicating a potential shift to a bullish trend.
–––––
Follow the Shrimp 🦐
Keep in mind.
HUGE Falling Wedge: The price is currently inside a massive falling wedge pattern. Falling wedges are characterized by converging trendlines and often suggest a potential reversal from a downtrend to an uptrend.
Double Bottom on Daily Timeframe: Additionally, a double bottom pattern has formed on the daily timeframe. This pattern is identified by two distinct troughs at roughly the same price level, indicating a potential trend reversal.
Breakout Anticipation and Plancton's Rules: In accordance with Plancton's Rules and aligned with the analysis, there's consideration of a new long position if the price experiences a breakout. A breakout refers to a significant price move above a key resistance level, indicating a potential shift to a bullish trend.
–––––
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
the price is following my arrow
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.