BATUSDT is testing the dynamic support

٢٣ يناير ٢٠٢٢

The price had a huge rejection from the 0.618 Fibonacci level on the weekly timeframe (the upper chart) and created a Double top.
After the bearish impulse, the price is testing the dynamic support on the weekly timeframe.

As you can see from the lower chart, the price created a bearish flag, had a breakout (1.19$), retested the previous support as new resistance, and got a new bearish impulse until the 0.74

How to approach?
We expect an upside move until the 0.618 Fibonacci level (0.87$).
The scenario is going to change from bearish to bullish if the price is going to have a breakout from 1$.

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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.
  

٢٤ يناير ٢٠٢٢

ملاحظة

The price is testing an important area, as you can see the market is on the Dynamic and support zone.

We could see a pullback on the 0.618 Fibonacci level on the previous support now new resistance.

Again, Avoid opening a short position on support!

٢٧ يناير ٢٠٢٢

ملاحظة

As I said in the first analysis, we need to understand the market structures and avoid to short the weekly or daily support.

The price had a pullback as expected and tested the 0.618

٣٠ يناير ٢٠٢٢

ملاحظة

Price hit my target on 0.618 Fibonacci level

٥ فبراير ٢٠٢٢

ملاحظة

27% since my call