Retest of $0.58 Weekly Area: The current market situation involves THETAUSDT retesting a critical weekly level around the $0.58 area. Weekly levels are historically significant price points that can exert influence on price movements.
Clear Breakout Target: $0.68: According to the analysis, for a potential long trade, the market needs to establish a decisive breakout above the $0.68 area. A breakout denotes a substantial price move beyond a key resistance level, signaling the potential initiation of a bullish trend.
Plancton's Rules Application: In accordance with Plancton's Rules and in line with the analysis, there is contemplation of a new long position if the price effectively experiences the aforementioned breakout. A long position involves acquiring the asset with the anticipation of its price rising.
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Follow the Shrimp 🦐
Keep in mind.
Clear Breakout Target: $0.68: According to the analysis, for a potential long trade, the market needs to establish a decisive breakout above the $0.68 area. A breakout denotes a substantial price move beyond a key resistance level, signaling the potential initiation of a bullish trend.
Plancton's Rules Application: In accordance with Plancton's Rules and in line with the analysis, there is contemplation of a new long position if the price effectively experiences the aforementioned breakout. A long position involves acquiring the asset with the anticipation of its price rising.
–––––
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.
Comment:
the price is testing the key level
