MKRUSDT recently experienced a false breakout from the daily resistance level, which is a key level that often represents a point of strong supply and demand. When the price breaks through this level, it can indicate a significant shift in market sentiment and a potential change in trend direction.
However, in this case, the breakout turned out to be false and the price is currently inside a descending channel. The market will need to create a new breakout from the static resistance level at around $760 for any long continuation to occur. This level is another key area of support and resistance and is a crucial level to monitor as it can indicate the direction of future price movement.
If the price breaks above this resistance level, we can apply Plancton's Strategies, a set of guidelines for identifying potential market movements, to help guide our decision-making and potentially open a new long position.
According to Plancton's strategy, we can set a nice order
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Keep in mind.
Follow the Shrimp 🦐
However, in this case, the breakout turned out to be false and the price is currently inside a descending channel. The market will need to create a new breakout from the static resistance level at around $760 for any long continuation to occur. This level is another key area of support and resistance and is a crucial level to monitor as it can indicate the direction of future price movement.
If the price breaks above this resistance level, we can apply Plancton's Strategies, a set of guidelines for identifying potential market movements, to help guide our decision-making and potentially open a new long position.
According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ black structure -> <= 1h structure.
Follow the Shrimp 🦐
Comment:
Breakout is mandatory
Comment:
Waiting or the breakout