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CRV / TetherUS

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CRVUSDT trade ideas

CRVUSDT is testing the resistance!It recently experienced a false breakout at the 0.95$ area, which means that the price briefly broke above a resistance level but then quickly fell back below it. This false breakout can be caused by a variety of factors, such as lack of buying pressure, profit-taking, or market manipulation. A false breakout is a common occurrence in technical analysis and can be challenging for traders to navigate. When a false breakout occurs, traders need to reassess their strategy and look for new trading opportunities. In this case, the false breakout at the 0.95$ area may have resulted in new liquidity being added to the market, which could lead to further price movements. According to Plancton's Rules, we would now wait for a new breakout from the current range, which means that the price needs to move above the current resistance level and close above it for at least one or two candles. This would indicate a new upward trend and provide a new long trading opportunity. ––––– 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. Follow the Shrimp 🦐
by InkyGrip
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