ZECUSDT had a breakout after an accumulation period, but was subsequently rejected by the daily resistance level. The rejection from the resistance level may be indicative of strong selling pressure or a lack of demand for the cryptocurrency at current prices.
However, the price of ZECUSDT is currently creating a bull flag pattern. A bull flag is a technical chart pattern that occurs when the price of an asset experiences a sharp upward movement, followed by a period of consolidation with a slight downward trend. This pattern often signals that the price is poised for another upward movement, and may indicate strong demand for the asset.
In order for the price of ZECUSDT to continue its upward trend, it will need to create a breakout from the bull flag pattern as well as the daily resistance level. According to Plancton's strategy, we can set a nice order
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Keep in mind.
Follow the Shrimp 🦐
However, the price of ZECUSDT is currently creating a bull flag pattern. A bull flag is a technical chart pattern that occurs when the price of an asset experiences a sharp upward movement, followed by a period of consolidation with a slight downward trend. This pattern often signals that the price is poised for another upward movement, and may indicate strong demand for the asset.
In order for the price of ZECUSDT to continue its upward trend, it will need to create a breakout from the bull flag pattern as well as the daily resistance level. According to Plancton's strategy, we can set a nice order
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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 🦐