on the Daily timeframe the price created a strong area on 43-44k where the market is trying to have a breakout.
On the 4h timeframe we can see how the price is testing the 0.886 Fibonacci level as new resistance.
How to approach?
We need to see a new breakout from the daily resistance with Volume and momentum, because that area is very strong and we could see a false breakout from it, for that reason we are following our rules. A breakout is not enough to open a new long position, the price needs to satisfy our rules. IF the price is going to satisfy all our checkpoints, we can open a new long position. the next valid resistance is on the monthly resistance on 46800
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Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Comment:
The price is trying to hold the daily resistance.
As I told you today, the best scenario is the daily close above the 45k
Let's see! 🦐
As I told you today, the best scenario is the daily close above the 45k
Let's see! 🦐
Comment:
The price is testing our resistance above the daily one.
Usually, when the price is going to create a consolidation phase, we see a breakout to the upside!
Let's see! 😎
Usually, when the price is going to create a consolidation phase, we see a breakout to the upside!
Let's see! 😎
I'd like to see a daily close above the 45k 🎯
So far so good