BTCUSDT indicates that the market is testing a key level at the 25100 area, which is also a weekly resistance level. This area could potentially act as a barrier for the price, preventing it from moving higher.
There is a possibility that the price could create a false breakout above the resistance level and then retest the demand zone at the 0.618 Fibonacci level. This would be a bearish scenario, indicating that there may be a lack of buying pressure in the market.
However, it is also possible that the price could have a breakout from the weekly resistance level and retest it as new support. This would be a bullish scenario, suggesting that buyers are gaining control of the market and that a new upward trend may be forming.
––––– 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 🦐
Not
We are waiting for the news now. the price is following my arrows so far
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