Long
HNTUSDT is trying to create a new Higher high
The price is testing the monthly resistance, a key level at 25$ the price got rejections in the past after a triple bottom on the 19.5$.
The price got a rejection exactly on the 26$ where the market has a 4h resistance and dynamic daily resistance.
On 4h Timeframe the price is trying to create a new higher high.
How to approach?
We are waiting for the breakout from the key level and applying our rules for a long position. As you can see on the left, just a breakout is not enough to open a new long position, so we will wait even for our rules.
Next daily resistance is 28$, don't miss it
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
The price got a rejection exactly on the 26$ where the market has a 4h resistance and dynamic daily resistance.
On 4h Timeframe the price is trying to create a new higher high.
How to approach?
We are waiting for the breakout from the key level and applying our rules for a long position. As you can see on the left, just a breakout is not enough to open a new long position, so we will wait even for our rules.
Next daily resistance is 28$, don't miss it
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Note
the price is following my drawing, at the moment got a rejection.the price needs to get new liquidity and create a clear breakout from the confluence area.
Note
The price followed my arrow. 12% so far.Note
nice bullish impulse after the breakout. The price needs to have a breakout from the daily resistance on 28$ as I told you
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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.