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WAVESUSDT is creating a retracement for the next leg?
WAVESUSDT, has repeatedly bounced off a dynamic support level after forming a Cup and Handle pattern.
A Cup and Handle pattern is a bullish reversal chart pattern that is formed when the price of an asset creates a rounded bottom or "cup" shape, followed by a smaller downward move or "handle". This pattern indicates that a price increase could be imminent as demand for the asset picks up.
In this context, a retracement means a temporary decrease in the price of Waves, as it returns to a previous level of support that is now expected to act as a new source of buying pressure. If the price satisfies the set rules, a new bullish impulse could emerge, pushing the price towards the next resistance level at $3.5, so According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
A Cup and Handle pattern is a bullish reversal chart pattern that is formed when the price of an asset creates a rounded bottom or "cup" shape, followed by a smaller downward move or "handle". This pattern indicates that a price increase could be imminent as demand for the asset picks up.
In this context, a retracement means a temporary decrease in the price of Waves, as it returns to a previous level of support that is now expected to act as a new source of buying pressure. If the price satisfies the set rules, a new bullish impulse could emerge, pushing the price towards the next resistance level at $3.5, so 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.
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Follow the Shrimp 🦐
註釋
The price is inside the descending channel, let's see!註釋
Bang!
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