The price is creating a falling wedge on the monthly support of 113$ after several rejections from the dynamic resistance.
On the 4h timeframe, the price is testing the 4h resistance after a first false breakout. The price needs to hold the monthly support to avoid invalidating the setup
How to approach? If the price is going to have a breakout from the falling wedge and 4h resistance, According to Plancton's strategy, we can set a nice order โโโโโ Keep in mind.
๐ฃ Purple structure -> Monthly structure.
๐ด Red structure -> Weekly structure.
๐ต Blue structure -> Daily structure.
๐ก Yellow structure -> 4h structure.
โโโโโ Follow the Shrimp ๐ฆ
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The price is still inside a falling wedge and got a rejection from the 4h resistance as I told you. Wait for the breakout above the 125$ ๐
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The price is testing the 4h resistance right now!
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The price needs to break the 4h resistance before turning bullish. At the moment the price is inside a falling wedge on the monthly support
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The price needs to flip it. We don't trade the Hopes