The price is testing important daily support on 0.40$ where the price bounced several times in the past.
On the 4h timeframe, the price is trying to create a double bottom on it, after a rejection from 0.42$ as new resistance.
How to approach?
We will expect a pullback until the previous support now new resistance on 0.42$ and 0.5 Fibonacci level.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
On the 4h timeframe, the price is trying to create a double bottom on it, after a rejection from 0.42$ as new resistance.
How to approach?
We will expect a pullback until the previous support now new resistance on 0.42$ and 0.5 Fibonacci level.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
