LTCUSDT had a false breakout

24 Nis 2023

LTCUSDT had a false breakout from the daily resistance inside a rising wedge on the 100$ area. This false breakout indicates that there was not enough buying pressure to sustain the price above the 100$ level, leading to a potential price reversal.

According to technical analysis, the price of LTCUSDT could create a new pullback into the 92$ area where the price has resistance. This pullback may occur as sellers take profits, leading to a decrease in buying pressure and a potential price decline. If the price does indeed pullback to the 92$ area and breaks below this support level, it may signal a potential new bearish trend.

As per Plancton's Rules, new short positions may be considered once the price breaks below the 92$ support level.

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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 🦐

27 Nis 2023

Not

the price followed my arrow

8 May 2023

Not

waiting for the last target

8 May 2023

Not

waiting for the last target