ZENUSDT is testing the 0618 Fibonacci level!
ZENUSDT recently tested the 0.618 Fibonacci retracement level on the daily timeframe
Breakouts from accumulation phases can be an excellent opportunity for traders to enter a position and potentially profit from a price increase.
However, it's important to note that breakouts can be followed by retracements or consolidations, and it's essential to carefully monitor the market to determine if the trend is likely to continue or if a reversal may occur.
Traders who follow Plancton's Rules may be waiting for a new breakout and retest of the resistance level as new support before considering a new long position in the market.
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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.
Follow the Shrimp 🦐
Breakouts from accumulation phases can be an excellent opportunity for traders to enter a position and potentially profit from a price increase.
However, it's important to note that breakouts can be followed by retracements or consolidations, and it's essential to carefully monitor the market to determine if the trend is likely to continue or if a reversal may occur.
Traders who follow Plancton's Rules may be waiting for a new breakout and retest of the resistance level as new support before considering a new long position in the market.
–––––
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.
Follow the Shrimp 🦐
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