NEARUSDT is currently testing the 0.382 Fibonacci level after a clear bullish impulse from a rounded bottom pattern, as previously indicated.
The market is now testing the 4-hour support inside a falling wedge formation, which is a bearish reversal pattern that is characterized by a tightening of the price range over time.
The falling wedge pattern typically signifies a loss of bearish momentum and an upcoming trend reversal, but new liquidity is needed for the market to continue its bullish movement. If the market does not receive the necessary liquidity, a bearish impulse could ensue, driving the price down to the 0.5 Fibonacci level.
However, the scenario is invalidated if the price loses the 1.8$ level, which serves as a key support.
On the other hand, if the price creates a clear breakout above the falling wedge pattern, according to Plancton’s rules, traders may consider opening a new long position, as this could signal a continuation of the bullish trend.
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Follow the Shrimp 🦐
Keep in mind.
The market is now testing the 4-hour support inside a falling wedge formation, which is a bearish reversal pattern that is characterized by a tightening of the price range over time.
The falling wedge pattern typically signifies a loss of bearish momentum and an upcoming trend reversal, but new liquidity is needed for the market to continue its bullish movement. If the market does not receive the necessary liquidity, a bearish impulse could ensue, driving the price down to the 0.5 Fibonacci level.
However, the scenario is invalidated if the price loses the 1.8$ level, which serves as a key support.
On the other hand, if the price creates a clear breakout above the falling wedge pattern, according to Plancton’s rules, traders may consider opening a new long position, as this could signal a continuation of the 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.
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the price is testing the demand zone as I told you before, let's see if the price grab new liquidity!
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a clear 11% since my idea
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BOOM 20%
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20%
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28%
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30%!
MTB and CPS STRATEGIES! 💥
MTB and CPS STRATEGIES! 💥