ATOMUSDT is testing the key level
Based on the provided information, the price of ATOMUSDT has recently grabbed new liquidity below the $9 area, and subsequently, it has retraced to retest the weekly support level. This movement suggests that there is a potential accumulation phase happening, with buyers showing interest in the asset at lower price levels.
If the price manages to break above the daily resistance at the $9.3 area, it could signal a bullish breakout according to Plancton's Rules. A bullish breakout occurs when the price surpasses a significant resistance level, indicating a potential shift in market sentiment from bearish to bullish.
According to Plancton's Rules, in this scenario, a new long position is suggested. A long position involves buying the asset with the expectation that its price will rise. By initiating a long position after the breakout, traders aim to take advantage of the potential upward momentum and price appreciation that may follow.
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Follow the Shrimp 🦐
Keep in mind.
If the price manages to break above the daily resistance at the $9.3 area, it could signal a bullish breakout according to Plancton's Rules. A bullish breakout occurs when the price surpasses a significant resistance level, indicating a potential shift in market sentiment from bearish to bullish.
According to Plancton's Rules, in this scenario, a new long position is suggested. A long position involves buying the asset with the expectation that its price will rise. By initiating a long position after the breakout, traders aim to take advantage of the potential upward momentum and price appreciation that may follow.
–––––
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.
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