The price is creating a descending channel on the daily timeframe and had a breakout from the dynamic support and bear flag. Now the price is testing important daily support on 1.4$
How to approach? We are monitoring the price, we expect a bounce around 1.6$. If the price got liquidity and the market is going to lose the current support and flip it in new resistance, we can apply our rules to open a new short position ––––– Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
노트
The price is testing the 1.4$ as support, we could see a new bearish impulse fi the price is going to have a breakout.
노트
It was a trading view request. The price followed my drawing and after the breakout, we made more than 14% by my FREE call. We could see a retest on the daily resistance, if the price is going to have another rejection, the next valid support is 0.90