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GALA / TetherUS PERPETUAL CONTRACT

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GALAUSDT.P trade ideas

GALAUSDT is inside the descending channelGALAUSDT has recently experienced a breakout from its weekly resistance level in the 0.05$ area. However, the market has since formed a descending channel, indicating that the price is currently experiencing a downward trend. The descending channel is characterized by a series of lower highs and lower lows, with the price bouncing between two parallel trendlines. The upper trendline acts as a resistance level, while the lower trendline acts as a support level. As the price approaches the support level at the 0.04$ area, traders will be watching closely to see if it breaks through or bounces back up. As per Plancton's Rules, traders will be waiting for a breakout from the descending channel and static resistance level before considering a new long position in GALAUSDT. ––––– 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
21
Gala Short to 0.02675On this fibonacci analysis it shows the bears might be heading towards the 236 fibonacci retracement down at 0.02675 area. If we find support there would be a great place to build longs. Today there was a sell signal and I dont believe we recover before we hit some bigger support on much lower number. I wont be buying until my target gets hit or I see a convincing buy signal. Next possible support above 2675 is 3200, which might give us a temporary bottom. I'd like to be ready with a short from higher so I can withstand that.
Short
by TheChartWhisperer