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 ––––– Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
––––– Follow the Shrimp 🦐
ノート
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$ 👀
ノート
The price is testing the 4h resistance right now!
ノート
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
ノート
The price needs to flip it. We don't trade the Hopes