The price is testing the 0.5 Fibonacci level on the 4h resistance after a nice bounce from the dynamic support of the broadening pattern. The broadening pattern it's a reversal pattern, but the market needs to have a breakout from the weekly resistance on 43k to change its bias.
How to approach? The scenario is still bearish, we could see a new breakout from the daily support on 39k, and retest the 4h support as new resistance, the target could be the 1.13 Fibonacci EXT
I have seen a similar trade idea for this asset several times today. I don't think all the arguments will hold, but some moves will probably be reached. Not only that, but I think I'll skip the trade this time.
InkyGrip
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@Solldy, i always wait for confirmation first and the strategy rules are fundamental in order to place the trade, thanks for sharing your vision