1INCH / TetherUSتم تحديثه 1INCHUSDT needs to hold the dynamic support
1INCHUSDT is testing the dynamic resistance inside the descending channel, which is a technical analysis term that refers to a trend line drawn along a series of recent highs that act as a resistance level for the price.
A descending channel is a chart pattern that is characterized by a series of lower highs and lower lows.
The dynamic resistance line is created by connecting at least two highs of the price with a straight line, and as the price moves higher, the line is adjusted to connect with the new highs. When the price approaches the dynamic resistance line, it suggests that the trend may be changing from bearish to bullish.
In addition to testing the dynamic resistance, the market needs to create a breakout from the descending channel on the $0.55 area and retest it as valid support. A breakout is a technical analysis term that refers to a price movement above or below a significant level of support or resistance. A breakout above the descending channel would suggest that the trend is changing from bearish to bullish and could lead to a rally in the price.
A retest of the breakout level as support would confirm the new uptrend.
If the price of 1INCHUSDT meets Plancton's Rules, which are a set of trading rules based on price action and market psychology, it could signal a good opportunity to open a new long position, which is a bet that the price will continue to rise.
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Follow the Shrimp 🦐
Keep in mind.
A descending channel is a chart pattern that is characterized by a series of lower highs and lower lows.
The dynamic resistance line is created by connecting at least two highs of the price with a straight line, and as the price moves higher, the line is adjusted to connect with the new highs. When the price approaches the dynamic resistance line, it suggests that the trend may be changing from bearish to bullish.
In addition to testing the dynamic resistance, the market needs to create a breakout from the descending channel on the $0.55 area and retest it as valid support. A breakout is a technical analysis term that refers to a price movement above or below a significant level of support or resistance. A breakout above the descending channel would suggest that the trend is changing from bearish to bullish and could lead to a rally in the price.
A retest of the breakout level as support would confirm the new uptrend.
If the price of 1INCHUSDT meets Plancton's Rules, which are a set of trading rules based on price action and market psychology, it could signal a good opportunity to open a new long position, which is a bet that the price will continue to rise.
–––––
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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