MANAUSDT wants the breakout?MANAUSDT, has recently shown an interesting market behavior. The price has bounced from a demand zone, indicating a strong level of buying interest and support in the market.
According to Plancton's rules, this bounce from the demand zone could suggest a potential bullish opportunity. Traders following Plancton's principles might consider waiting for a retracement of the price towards the neckline before considering a new long position.
The neckline refers to a significant level of resistance that has been previously established and acted as a barrier for the price. By waiting for a retracement towards the neckline, traders can increase the probability of a successful long trade, as the price may find support at this level and potentially continue its upward movement.
Once the price retraces towards the neckline and shows signs of support or a potential bullish reversal, traders following Plancton's rules may consider opening a new long position, anticipating a continuation of the upward trend.
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
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