the price is creating a descending channel and it's testing a first demand zone as you can see on the left. On the 4h timeframe, the price is testing the 1.618 Fibonacci level where the price could get new liquidity for the reverse.
How to approach? The price needs to grab new liquidity in order to reverse the main trend, 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 🦐
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The price needs to grab the liquidity from the 1.618 Fibonacci level and create a new impulse. The next liquidity area is 8$