Binance Coin / TetherUSGüncellendi

BNBUSDT is testing the key level

BNBUSDT had a false breakout from the weekly resistance level, the market has lost its previously established dynamic support. Currently, the price is undergoing a crucial test at the key level of 316.

If the price fails to maintain support at 316 and subsequently retests it as a new resistance level, traders following Plancton's rules would consider initiating new short positions. This approach is based on Plancton's methodology, which suggests that a failed breakout and subsequent retest of a key level as resistance often signals a reversal of the previous bullish trend.

Therefore, traders monitoring BNBUSDT would be watchful for signs of the price losing support at 316 and subsequently retesting it as a new resistance level. Should this scenario unfold, it may present an opportunity for traders to enter short positions in anticipation of a potential downward movement in the market

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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.
Follow the Shrimp 🦐
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