The price bounced on 0.5 Fibonacci level as I told you in my previous Short analysis, now the price is testing the descending channel and daily resistance at 1666$ area.
How to approach it?
The price needs to create a new breakout with volume with that area and retest the current resistance as new support. thus, if the price is going to have a breakout, 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.
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Follow the Shrimp 🦐
This article was originally published by Tradingview.com. Read the original article here.
