VETUSDT is currently in a critical phase as it tests the significant weekly key level. This level is of utmost importance, as it has historical significance and often serves as a crucial pivot point for traders and investors.
According to the trading principles advocated by Plancton, a well-known figure in the trading community, a potential long trade could be considered if the following conditions are met:
Breakout from the Key Level: The first condition involves a decisive breakout above the key level at $0.01624. This breakout signifies a potential shift in market sentiment and may indicate the beginning of an upward trend.
Confirmation of the Breakout: After the breakout, it's essential to see confirmation of the newfound support around the $0.01624 area. This confirmation can help validate that the breakout is genuine and not a false signal.
Market Context: Traders often consider the broader market context, including factors like volume, news events, and trend analysis, to provide additional confirmation and context for their trading decisions.
If the price of VETUSDT fulfills these conditions and follows Plancton's trading strategy, traders might consider opening a new long position, expecting the price to potentially continue rising.
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Follow the Shrimp 🦐
Keep in mind.
According to the trading principles advocated by Plancton, a well-known figure in the trading community, a potential long trade could be considered if the following conditions are met:
Breakout from the Key Level: The first condition involves a decisive breakout above the key level at $0.01624. This breakout signifies a potential shift in market sentiment and may indicate the beginning of an upward trend.
Confirmation of the Breakout: After the breakout, it's essential to see confirmation of the newfound support around the $0.01624 area. This confirmation can help validate that the breakout is genuine and not a false signal.
Market Context: Traders often consider the broader market context, including factors like volume, news events, and trend analysis, to provide additional confirmation and context for their trading decisions.
If the price of VETUSDT fulfills these conditions and follows Plancton's trading strategy, traders might consider opening a new long position, expecting the price to potentially continue rising.
–––––
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.