NEARUSDT is creating an inverse head and shoulders
The price bounced on the monthly support on 8$ after a false breakout from the weekly dynamic support.
On the daily timeframe, the price had a breakout from the dynamic resistance and from the weekly resistance, and now the price is testing the 0.618 Fibonacci level as resistance
On 5h timeframe, the price is creating an inverse head and shoulders above the weekly resistance
How to approach?
If the price is going to have a breakout from its neckline and retest as new support, we can apply our rules for a new long position.
Be aware of the weekly structure on 13$
According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
On the daily timeframe, the price had a breakout from the dynamic resistance and from the weekly resistance, and now the price is testing the 0.618 Fibonacci level as resistance
On 5h timeframe, the price is creating an inverse head and shoulders above the weekly resistance
How to approach?
If the price is going to have a breakout from its neckline and retest as new support, we can apply our rules for a new long position.
Be aware of the weekly structure on 13$
According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
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