SOLUSDT Pullback before new bearish impulse?

The price of SOLUSDT is testing the 0.5 Fibonacci level as resistance, which means that it has retraced 50% of the bearish impulse from the 22.5$ area. The Fibonacci levels are a set of technical indicators used in trading to identify potential levels of support and resistance based on the ratio of numbers in the Fibonacci sequence.

After a significant drop from the 22.5$ area, the price of SOLUSDT may face some resistance at the 0.618 Fibonacci level before it can continue its upward trend. This level represents a retracement of 61.8% of the bearish impulse, and it is a crucial level for traders to watch. If the price fails to break above the 0.618 Fibonacci level, it could indicate that the bearish momentum is still strong, and the price may retest lower levels.

According to Plancton's strategy, we can set a nice order
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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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Follow the Shrimp 🦐