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 ––––– Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
––––– Follow the Shrimp 🦐
Komen
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the price needs to create a clear breakout from 1700$
Komen
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The critical area, the price needs to hold the dynamic support and flip the 1680$ area. Let's see
Komen
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Breakout! Now the price needs to hold it
Komen
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The price needs to confirm the flip and retest the resistance as new support