The price is testing the 0.618 Fibonacci level on the monthly Timeframe.
As you can see this area is a key area for the market.
On the weekly timeframe the price is losing the support where the price bounced several times.
On 4h Timeframe the price is trying to have a breakout from the supply zone.
How to approach?
IF the price is going to lose the 4h support, According to Plancton's strategy, we can set a nice order
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Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
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Follow the Shrimp 🦐
Note
The price is testing the weekly resistance.If the price is going to have a breakdown, we can apply our rules for a short Position
Don't miss it
Note
The price is getting the liquidity from the weekly resistance.IF the price is going to create a new Lower low, we could see a new bearish impulse.
Note
We are running in profit on BNBUSDTThe price lost the status support after a false breakout from the bear flag.
wait for the next target
Note
30% Note
The price is melting until the next monthly Fibonacci level.37% so far, congrats Planctoners!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.