ROSE / TetherUSUpdated ROSEUSDT needs the breakout
ROSEUSDT is exhibiting a descending channel pattern on the daily timeframe. A descending channel is characterized by two parallel trend lines, with the upper trend line acting as a resistance level and the lower trend line serving as a support level.
The price of ROSEUSDT is currently contained within this descending channel, indicating a predominant bearish trend. The upper trend line acts as a significant barrier, limiting upward price movements, while the lower trend line provides support and prevents the price from declining further.
According to Plancton's rules, a potential trading opportunity could arise if ROSEUSDT experiences a breakout above the 0.054$ resistance level. A breakout occurs when the price surpasses a key resistance level, indicating a potential shift in market sentiment and a possible continuation of bullish momentum.
It's important to note that a breakout above the 0.054$ area is mandatory for considering a long position according to Plancton's rules. This breakout would suggest that the bears are losing control, potentially leading to an upward price movement.
However, it's essential to wait for confirmation of the breakout, such as a strong candle close above the resistance level, to avoid potential false breakouts.
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Follow the Shrimp 🦐
Keep in mind.
The price of ROSEUSDT is currently contained within this descending channel, indicating a predominant bearish trend. The upper trend line acts as a significant barrier, limiting upward price movements, while the lower trend line provides support and prevents the price from declining further.
According to Plancton's rules, a potential trading opportunity could arise if ROSEUSDT experiences a breakout above the 0.054$ resistance level. A breakout occurs when the price surpasses a key resistance level, indicating a potential shift in market sentiment and a possible continuation of bullish momentum.
It's important to note that a breakout above the 0.054$ area is mandatory for considering a long position according to Plancton's rules. This breakout would suggest that the bears are losing control, potentially leading to an upward price movement.
However, it's essential to wait for confirmation of the breakout, such as a strong candle close above the resistance level, to avoid potential false breakouts.
–––––
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
waiting... 
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