On the upper chart, the price got a rejection from the monthly resistance on 48100$ and now the price is testing the previous weekly resistance as new support on 0.618 Fibonacci level.
On the 4h timeframe, the price is testing the 0.886 Fibonacci level after a rejection from the 0.618 Fibonacci level
How to approach?
the price needs to hold that level and the next 4h support on 41600-41500.
If the price is going to lose the support, the next valid support is 40k.
Otherwise, if the price is going to have a breakout from the 43700, we could see a retest on the upper dynamic resistance.
According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
Follow the Shrimp 🦐
On the 4h timeframe, the price is testing the 0.886 Fibonacci level after a rejection from the 0.618 Fibonacci level
How to approach?
the price needs to hold that level and the next 4h support on 41600-41500.
If the price is going to lose the support, the next valid support is 40k.
Otherwise, if the price is going to have a breakout from the 43700, we could see a retest on the upper dynamic resistance.
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 🦐
Comment:
Next valid support is 40k
Comment:
5.38% so far
The price is testing 40k as I told you.
5.38% so far
Wait for NY opens