LTCUSDT more liquidity before the Halving?
The current price action of LTCUSDT indicates an interesting development based on Plancton's Rules.
After experiencing a false breakout above the 106$ weekly resistance level, LTCUSDT is now testing a significant support level around the 90$ area. This support level has demonstrated its importance in the past, acting as a crucial point where buyers have stepped in to prevent further price declines.
According to Plancton's Rules, if the price fails to hold the support at the 90$ area and breaks below it, a new bearish impulse may be expected. This would indicate a shift in market sentiment and potentially trigger further downward price movement.
With the support level potentially giving way, the next potential target based on Plancton's Rules is the 80$ area. This level is seen as a possible downside target if the bearish momentum continues.
Traders following Plancton's Rules would closely monitor the price action around the support level at 90$ and wait for confirmation of a breakdown before considering a bearish position. Implementing risk management strategies, such as setting stop-loss orders and profit targets, is crucial to manage potential risks in trading.
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Follow the Shrimp 🦐
Keep in mind.
After experiencing a false breakout above the 106$ weekly resistance level, LTCUSDT is now testing a significant support level around the 90$ area. This support level has demonstrated its importance in the past, acting as a crucial point where buyers have stepped in to prevent further price declines.
According to Plancton's Rules, if the price fails to hold the support at the 90$ area and breaks below it, a new bearish impulse may be expected. This would indicate a shift in market sentiment and potentially trigger further downward price movement.
With the support level potentially giving way, the next potential target based on Plancton's Rules is the 80$ area. This level is seen as a possible downside target if the bearish momentum continues.
Traders following Plancton's Rules would closely monitor the price action around the support level at 90$ and wait for confirmation of a breakdown before considering a bearish position. Implementing risk management strategies, such as setting stop-loss orders and profit targets, is crucial to manage potential risks in trading.
–––––
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.
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testing the key level
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8% after the breakout and the halving
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9%
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12%
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17%
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36%