Recently, the market has created equal highs in the 25k area, where there is also a daily supply level. This indicates that there is strong resistance in this area, and that buyers have struggled to push the price higher.
However, there is potential for the market to grab new liquidity from the 22-23k area, where there is a 0.786 Fibonacci level. This level is often seen as a strong level of support, and if buyers are able to push the price higher from this level, it could signal a potential shift in market sentiment from bearish to bullish.
It's important to note that this scenario would only be invalidated if the price were to create a breakout from the 25k area with confirmations. A breakout above this level could indicate that buyers are able to overcome the resistance in this area and push the price higher.
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Follow the Shrimp 🦐
Keep in mind.
However, there is potential for the market to grab new liquidity from the 22-23k area, where there is a 0.786 Fibonacci level. This level is often seen as a strong level of support, and if buyers are able to push the price higher from this level, it could signal a potential shift in market sentiment from bearish to bullish.
It's important to note that this scenario would only be invalidated if the price were to create a breakout from the 25k area with confirmations. A breakout above this level could indicate that buyers are able to overcome the resistance in this area and push the price higher.
–––––
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.
Comment:
The price is following my arrow
Comment:
everything as expected
Trade closed: target reached:
Done
Comment:
10%
