Price broke low off of a failed slope and formed a low fail - higher low. For price to advance we need this low fail area to hold price - a break below will need a review of left side of chart to identify demand and new low target. Immediate price action we are interested in the price action in the black circle whish we need to tear down into lower time frame. A break above the black circle shows targets above.
1hr view - when analysing present price action - to take a long we knew we had a failed low pivot to start with next - we want price to break supply as it moves higher - then we need demand to start holding price from falling and that is where price is at presently - price is in supply we expect a retrace and we want demand to hold where we can anticipate entering another long.