DASHUSDT experienced a false breakout above the 4-hour resistance at the $64 level.
This level coincided with the static 4-hour resistance at the 0.618 Fibonacci resistance, indicating a strong level of resistance. However, the price was not able to sustain the momentum and has since retreated, testing the support level once again.
If the price fails to hold above the support level, there could be an opportunity for traders to set a short order, according to Plancton's strategy. This would be based on the assumption that the price may continue to move lower, potentially breaking through additional support levels.
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Follow the Shrimp 🦐
Keep in mind.
This level coincided with the static 4-hour resistance at the 0.618 Fibonacci resistance, indicating a strong level of resistance. However, the price was not able to sustain the momentum and has since retreated, testing the support level once again.
If the price fails to hold above the support level, there could be an opportunity for traders to set a short order, according to Plancton's strategy. This would be based on the assumption that the price may continue to move lower, potentially breaking through additional support levels.
–––––
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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