FILUSDT is testing the first demand zone

2023년 3월 6일

FILUSDT is testing the demand zone on 0.786 on the 4-hour timeframe, which could potentially provide a buying opportunity for traders.

In addition, the market is creating a falling wedge pattern, which is a bullish reversal pattern. A falling wedge occurs when the price of an asset forms a series of lower highs and lower lows, but the range between the highs and lows narrows over time. This creates a wedge-like shape on the chart, and is typically seen as a bullish reversal pattern.

For a potential bullish breakout to occur, the price of FILUSDT needs to create a breakout from the 6.65 weekly resistance level, which has previously acted as a key level of resistance. If the price manages to break above this level and retest it as a new support level, this could provide a strong bullish signal for traders.

Once the breakout and retest of the resistance level has been confirmed, traders can apply Plancton’s rules, a set of technical analysis rules used by traders, to look for a potential long position in the market.
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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 🦐

2023년 3월 13일

노트

testing the key level