The price is inside a descending channel on the 4h timeframe after the market bounced on the dynamic support on the daily one. Not the price is testing an important resistance on the 1.4$ area.
How to approach it? IF the price is going to have a breakout from the resistance and retest it as new support, 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 create a clear breakout from the descending channel