OMGUSDT is testing the Dynamic support
The price had a breakout from the falling wedge and now the price is testing the previous dynamic support ad new resistance.
The price could have a pullback until the 0.382 Fibonacci level.
(on the lower chart)
On the Weekly timeframe (the upper chart) you can find how the price is bouncing on the weekly dynamic support (the red trendline), It means that this support is very strong.
How To approach?
If the price is going to have a rejection from the 0.382 Fibonacci level and if the market is going to lose the 4 support and turns into new resistance, we can wait for applying our rules in order to find a new short position. The Next valid support is 3$
Otherwise
If the price is going to have a breakout from 0.618 Fibonacci level and swift the momentum from bearish to bullish (above 6$) we can analyze again to find a new long opportunity.
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Follow the Shrimp 🦐
Keep in mind.
The price could have a pullback until the 0.382 Fibonacci level.
(on the lower chart)
On the Weekly timeframe (the upper chart) you can find how the price is bouncing on the weekly dynamic support (the red trendline), It means that this support is very strong.
How To approach?
If the price is going to have a rejection from the 0.382 Fibonacci level and if the market is going to lose the 4 support and turns into new resistance, we can wait for applying our rules in order to find a new short position. The Next valid support is 3$
Otherwise
If the price is going to have a breakout from 0.618 Fibonacci level and swift the momentum from bearish to bullish (above 6$) we can analyze again to find a new long opportunity.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
コメント:
The price lost directly the 4h support and retested it as new support.
a Clear 8% so far
a Clear 8% so far
I'd like to see a clear breakout of that structures