ATOMUSDT is testing the weekly descending channel
ATOMUSDT appears to have recently grabbed new liquidity from the monthly support on the $8.7 area, creating a breakout that led to profitable trades.
Currently, the market is testing a weekly descending channel.
This channel represents a period of downward price movement that is bounded by two parallel trendlines.
We will be closely monitoring whether the price will be able to break above this channel, as this would suggest that the trend is reversing and that prices may continue to rise in the future.
At this point, it's important to wait for a clear breakout above the weekly descending channel before entering a long position. It's also important to keep an eye on the volume, According to Plancton's strategy, we can set a nice order
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Keep in mind.
Follow the Shrimp 🦐
Currently, the market is testing a weekly descending channel.
This channel represents a period of downward price movement that is bounded by two parallel trendlines.
We will be closely monitoring whether the price will be able to break above this channel, as this would suggest that the trend is reversing and that prices may continue to rise in the future.
At this point, it's important to wait for a clear breakout above the weekly descending channel before entering a long position. It's also important to keep an eye on the volume, According to Plancton's strategy, we can set a nice order
–––––
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 🦐
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The price is trying to create a breakout
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MTB and CPS for a clear 20%
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55%
