VeChain / TetherUSמעודכן VETUSDT is creating a pennant
VETUSDT is showing signs of potential weakness.
The market has created a pennant formation after bouncing on the 0.020$ area and creating a new bullish impulse.
Currently, the price is testing the 4-hour resistance on the 0.024$ area, which is a critical level for traders to watch. If the price creates a new bullish impulse and retests the 0.5 Fibonacci level, where the price has liquidity, it could create a new bearish impulse until the daily support at 0.017$ area.
According to Plancton's rules, if the price breaks below the daily support at 0.017$ area, a new short position may be possible. This is because the breakdown from the support level indicates that the bears have gained control, and there is potential for the price to continue moving lower.
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Follow the Shrimp 🦐
Keep in mind.
The market has created a pennant formation after bouncing on the 0.020$ area and creating a new bullish impulse.
Currently, the price is testing the 4-hour resistance on the 0.024$ area, which is a critical level for traders to watch. If the price creates a new bullish impulse and retests the 0.5 Fibonacci level, where the price has liquidity, it could create a new bearish impulse until the daily support at 0.017$ area.
According to Plancton's rules, if the price breaks below the daily support at 0.017$ area, a new short position may be possible. This is because the breakdown from the support level indicates that the bears have gained control, and there is potential for the price to continue moving lower.
–––––
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.
הערה
testing the key level
כתב ויתור
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