JASMYUSDT is undergoing a crucial test at the 0.618 Fibonacci retracement level, which is at the 0.0040 price level.
In technical analysis, the Fibonacci retracement levels are commonly used to identify potential support and resistance areas based on the key Fibonacci ratios, with 0.618 being one of the most significant ratios. When the price approaches the 0.618 Fibonacci level, it often acts as a critical decision point for traders and investors.
According to Plancton's rules, a widely-followed trading strategy, a potential long (buy) opportunity is suggested if the price successfully creates a breakout above the current level of 0.0040. A breakout above this level would imply that the bulls have gained strength and are pushing the price higher, potentially leading to further upward momentum.
Traders should be cautious and wait for confirmation of the breakout. It is essential to see a clear and sustained movement above 0.0040, accompanied by significant trading volume, to ensure the strength and validity of the breakout.
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Follow the Shrimp 🦐
Keep in mind.
In technical analysis, the Fibonacci retracement levels are commonly used to identify potential support and resistance areas based on the key Fibonacci ratios, with 0.618 being one of the most significant ratios. When the price approaches the 0.618 Fibonacci level, it often acts as a critical decision point for traders and investors.
According to Plancton's rules, a widely-followed trading strategy, a potential long (buy) opportunity is suggested if the price successfully creates a breakout above the current level of 0.0040. A breakout above this level would imply that the bulls have gained strength and are pushing the price higher, potentially leading to further upward momentum.
Traders should be cautious and wait for confirmation of the breakout. It is essential to see a clear and sustained movement above 0.0040, accompanied by significant trading volume, to ensure the strength and validity of the breakout.
–––––
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.
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