Testing a Key Level at 0.00936: The current market situation involves ONEUSDT testing a significant level around 0.00936. Key levels are historical price points with notable influence on price actions.
HUGE Falling Wedge: The price is currently inside a massive falling wedge pattern. Falling wedges are characterized by converging trendlines and often suggest a potential reversal from a downtrend to an uptrend.
Double Bottom on Daily Timeframe: Additionally, a double bottom pattern has formed on the daily timeframe. This pattern is identified by two distinct troughs at roughly the same price level, indicating a potential trend reversal.
Breakout Anticipation and Plancton's Rules: In accordance with Plancton's Rules and aligned with the analysis, there's consideration of a new long position if the price experiences a breakout. A breakout refers to a significant price move above a key resistance level, indicating a potential shift to a bullish trend.
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Follow the Shrimp 🦐
Keep in mind.
HUGE Falling Wedge: The price is currently inside a massive falling wedge pattern. Falling wedges are characterized by converging trendlines and often suggest a potential reversal from a downtrend to an uptrend.
Double Bottom on Daily Timeframe: Additionally, a double bottom pattern has formed on the daily timeframe. This pattern is identified by two distinct troughs at roughly the same price level, indicating a potential trend reversal.
Breakout Anticipation and Plancton's Rules: In accordance with Plancton's Rules and aligned with the analysis, there's consideration of a new long position if the price experiences a breakout. A breakout refers to a significant price move above a key resistance level, indicating a potential shift to a bullish trend.
–––––
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
