ETHUSDT is testing the weekly support

The price bounced to 0.618 Fibonacci level on the daily timeframe (2900) and now the market is testing the previous daily support case for new resistance.

on 4h Timeframe, the price created two M patterns and the price is testing the second neckline above the 3100

How to approach?
IF the price is going to lose the weekly support and retest it as new resistance According to Plancton's strategy, we can set a nice order
Be aware to False breakout
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Keep in mind.

• 🟣 Purple structure -> Monthly structure.
  
• 🔴 Red structure -> Weekly structure.
  
• 🔵 Blue structure -> Daily structure.
  
• 🟡 Yellow structure -> 4h structure.
  

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Follow the Shrimp 🦐

Yorum:

3% so far, more if the price is going to have a breakout from the bearish flag