BTSUSDT is testing dynamic support after a clear breakout of daily resistance. This indicates that the market has experienced a significant shift in momentum, with bulls taking control.
The dynamic support level refers to a moving average that adjusts to the most recent price action. In this case, the price is testing this support level, which suggests that buyers are willing to step in and buy at this price point. This is a positive sign for those looking for a long position in BTSUSDT.
If the price of BTSUSDT breaks out of this dynamic support level and satisfies Plancton's rules, it would be a strong signal to go long. Plancton's rules are a set of technical analysis guidelines that aim to identify high-probability trading opportunities. These rules include looking for strong trends, clear price patterns, and confirmation.
–––––
Follow the Shrimp 🦐
Keep in mind.
The dynamic support level refers to a moving average that adjusts to the most recent price action. In this case, the price is testing this support level, which suggests that buyers are willing to step in and buy at this price point. This is a positive sign for those looking for a long position in BTSUSDT.
If the price of BTSUSDT breaks out of this dynamic support level and satisfies Plancton's rules, it would be a strong signal to go long. Plancton's rules are a set of technical analysis guidelines that aim to identify high-probability trading opportunities. These rules include looking for strong trends, clear price patterns, and confirmation.
–––––
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.