UNFIUSDT wants the breakout?
Updated
The current price action of UNFIUSDT is characterized by a large daily triangle pattern. This triangle pattern is formed by the convergence of a downward-sloping resistance trend line and an upward-sloping support trend line. The market is currently trading within this triangle pattern, suggesting a period of consolidation and indecision.
The price of UNFIUSDT recently found support around the $2.8 area, where it attracted new liquidity and initiated a rebound. The market is now making another attempt to test the dynamic resistance within the triangle pattern. This dynamic resistance has acted as a significant barrier in the past.
According to Plancton's Rules, a new trading opportunity may arise if UNFIUSDT manages to break out from the 4-hour resistance level. A breakout occurs when the price surpasses a key resistance level, indicating a potential continuation of the upward momentum. Traders following Plancton's Rules might consider opening long positions once the breakout is confirmed.
It's important to wait for confirmation of the breakout, such as a strong candle close above the resistance level, to avoid potential false breakouts. Traders should also consider using appropriate risk management strategies, such as setting stop-loss orders, to manage potential losses in case the breakout fails or the market reverses.
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Follow the Shrimp 🦐
Keep in mind.
The price of UNFIUSDT recently found support around the $2.8 area, where it attracted new liquidity and initiated a rebound. The market is now making another attempt to test the dynamic resistance within the triangle pattern. This dynamic resistance has acted as a significant barrier in the past.
According to Plancton's Rules, a new trading opportunity may arise if UNFIUSDT manages to break out from the 4-hour resistance level. A breakout occurs when the price surpasses a key resistance level, indicating a potential continuation of the upward momentum. Traders following Plancton's Rules might consider opening long positions once the breakout is confirmed.
It's important to wait for confirmation of the breakout, such as a strong candle close above the resistance level, to avoid potential false breakouts. Traders should also consider using appropriate risk management strategies, such as setting stop-loss orders, to manage potential losses in case the breakout fails or the market reverses.
–––––
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.
Note
Waiting for the breakoutNote
Note
Waiting for the next bullish impulse
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