The price is testing the daily support after the rejection from the upper trendline as you can see on the daily timeframe ( the upper one).
The price is creating a falling wedge.
On the 4h timeframe, on the lower one, The price is testing important daily support on 41$. If you check on the left you can see how the price respected that structure
How to approach?
If the price is going to lose the daily support, and retest as new resistance we could see another bearish impulse until 38$ according to our rules.
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Follow the Shrimp 🦐
Keep in mind.
The price is creating a falling wedge.
On the 4h timeframe, on the lower one, The price is testing important daily support on 41$. If you check on the left you can see how the price respected that structure
How to approach?
If the price is going to lose the daily support, and retest as new resistance we could see another bearish impulse until 38$ according to our rules.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
If the price is going to have a new breakout, the next valid support is 36$.
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